Janney Montgomery Scott LLC Sells 4,996 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Janney Montgomery Scott LLC reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,734 shares of the utilities provider’s stock after selling 4,996 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Public Service Enterprise Group were worth $3,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Public Service Enterprise Group by 3.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 39,380 shares of the utilities provider’s stock worth $2,408,000 after acquiring an additional 1,329 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Public Service Enterprise Group by 6.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 509,955 shares of the utilities provider’s stock worth $31,520,000 after buying an additional 28,735 shares in the last quarter. Westpac Banking Corp grew its position in Public Service Enterprise Group by 7.8% during the fourth quarter. Westpac Banking Corp now owns 14,597 shares of the utilities provider’s stock valued at $893,000 after acquiring an additional 1,055 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Public Service Enterprise Group by 8.5% during the fourth quarter. Checchi Capital Advisers LLC now owns 7,795 shares of the utilities provider’s stock worth $477,000 after acquiring an additional 613 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Public Service Enterprise Group by 93.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 26,468 shares of the utilities provider’s stock worth $1,619,000 after acquiring an additional 12,795 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Scotiabank decreased their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Evercore ISI boosted their target price on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Barclays raised their price target on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Wells Fargo & Company boosted their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Finally, Bank of America raised their target price on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.15.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $74.33 on Thursday. The company has a 50 day moving average of $68.25 and a 200 day moving average of $63.77. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $75.17. The firm has a market cap of $37.02 billion, a P/E ratio of 20.59, a PEG ratio of 3.83 and a beta of 0.56.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the previous year, the business posted $1.39 earnings per share. Public Service Enterprise Group’s quarterly revenue was down 26.5% compared to the same quarter last year. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.23%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total value of $95,561.70. Following the transaction, the chief executive officer now owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the transaction, the chief executive officer now directly owns 150,973 shares in the company, valued at $10,500,172.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. Insiders have sold a total of 9,322 shares of company stock worth $607,376 in the last ninety days. Insiders own 0.57% of the company’s stock.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.