Probity Advisors Inc. Trims Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Probity Advisors Inc. lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,387 shares of the utilities provider’s stock after selling 261 shares during the quarter. Probity Advisors Inc.’s holdings in Public Service Enterprise Group were worth $1,360,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PEG. Capital Research Global Investors raised its position in Public Service Enterprise Group by 17.1% in the 3rd quarter. Capital Research Global Investors now owns 18,438,963 shares of the utilities provider’s stock valued at $1,122,933,000 after purchasing an additional 2,696,215 shares during the last quarter. Nordea Investment Management AB raised its position in Public Service Enterprise Group by 40.3% in the 4th quarter. Nordea Investment Management AB now owns 9,775,333 shares of the utilities provider’s stock valued at $647,714,000 after purchasing an additional 2,808,491 shares during the last quarter. Geode Capital Management LLC raised its position in Public Service Enterprise Group by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 9,493,462 shares of the utilities provider’s stock valued at $576,700,000 after purchasing an additional 526,410 shares during the last quarter. JPMorgan Chase & Co. raised its position in Public Service Enterprise Group by 8.3% in the 4th quarter. JPMorgan Chase & Co. now owns 8,329,900 shares of the utilities provider’s stock valued at $555,855,000 after purchasing an additional 640,728 shares during the last quarter. Finally, Invesco Ltd. raised its position in Public Service Enterprise Group by 70.5% in the 3rd quarter. Invesco Ltd. now owns 4,615,261 shares of the utilities provider’s stock valued at $281,071,000 after purchasing an additional 1,909,054 shares during the last quarter. Institutional investors and hedge funds own 70.82% of the company’s stock.

Several analysts recently commented on PEG shares. Evercore ISI upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $71.00 price target for the company in a research report on Tuesday, January 25th. Wells Fargo & Company upped their price objective on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 12th. Credit Suisse Group started coverage on shares of Public Service Enterprise Group in a research report on Monday, April 25th. They set a “neutral” rating and a $76.00 price objective for the company. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Monday, May 9th. Finally, Morgan Stanley upped their price objective on shares of Public Service Enterprise Group from $80.00 to $86.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 20th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Buy” and a consensus price target of $73.17.

In other news, COO Ralph A. Larossa sold 4,890 shares of the stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $64.47, for a total transaction of $315,258.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ralph Izzo sold 9,883 shares of the stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $70.44, for a total transaction of $696,158.52. Following the transaction, the chief executive officer now owns 474,153 shares in the company, valued at $33,399,337.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,256 shares of company stock worth $1,733,966. 0.55% of the stock is owned by insiders.

NYSE PEG traded up $0.29 during trading hours on Friday, reaching $68.58. The company’s stock had a trading volume of 2,760,137 shares, compared to its average volume of 3,128,017. The stock has a market cap of $34.24 billion, a PE ratio of -26.68, a PEG ratio of 4.70 and a beta of 0.54. Public Service Enterprise Group Incorporated has a fifty-two week low of $58.96 and a fifty-two week high of $75.61. The company’s 50-day moving average is $69.64 and its two-hundred day moving average is $66.47. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.79 and a current ratio of 0.89.

Public Service Enterprise Group (NYSE:PEGGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The utilities provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.21. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Public Service Enterprise Group had a negative net margin of 14.19% and a positive return on equity of 12.94%. The firm’s revenue was down 19.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.28 EPS. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.47 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 9th will be issued a $0.54 dividend. The ex-dividend date is Wednesday, June 8th. This represents a $2.16 dividend on an annualized basis and a yield of 3.15%. Public Service Enterprise Group’s dividend payout ratio (DPR) is -84.05%.

About Public Service Enterprise Group (Get Rating)

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

Further Reading

Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating).

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.