Oxbow Advisors LLC Sells 2,352 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Oxbow Advisors LLC lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,226 shares of the utilities provider’s stock after selling 2,352 shares during the period. Oxbow Advisors LLC’s holdings in Public Service Enterprise Group were worth $5,102,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Family Firm Inc. bought a new stake in shares of Public Service Enterprise Group in the second quarter worth about $33,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group during the 1st quarter worth approximately $36,000. Salomon & Ludwin LLC lifted its stake in Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after buying an additional 560 shares in the last quarter. Finally, Scarborough Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $41,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG traded down $0.96 during midday trading on Friday, reaching $79.94. The stock had a trading volume of 2,197,435 shares, compared to its average volume of 2,806,953. The firm has a market cap of $39.82 billion, a PE ratio of 22.14, a P/E/G ratio of 2.94 and a beta of 0.60. The firm has a 50 day simple moving average of $77.98 and a 200-day simple moving average of $72.01. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $81.89. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.70 EPS. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is 66.48%.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the sale, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on PEG shares. BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. Bank of America boosted their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Barclays increased their price objective on Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada raised their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.33.

Public Service Enterprise Group Profile

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.