SeaCrest Wealth Management LLC Sells 913 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

SeaCrest Wealth Management LLC lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.1% during the 2nd quarter, Holdings Channel reports. The firm owned 7,347 shares of the utilities provider’s stock after selling 913 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $541,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Addison Advisors LLC bought a new position in Public Service Enterprise Group in the fourth quarter worth approximately $31,000. OFI Invest Asset Management bought a new position in Public Service Enterprise Group in the second quarter worth approximately $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group in the first quarter worth approximately $36,000. Salomon & Ludwin LLC grew 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 worth $39,000 after purchasing an additional 560 shares in the last quarter. Finally, PFS Partners LLC lifted its holdings in Public Service Enterprise Group by 90.9% during the first quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock worth $42,000 after buying an additional 300 shares during the period. Institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Price Performance

Shares of PEG stock traded up $0.57 during trading hours on Wednesday, hitting $80.92. 429,773 shares of the company’s stock were exchanged, compared to its average volume of 2,828,462. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $81.89. The firm has a market cap of $40.30 billion, a P/E ratio of 22.26, a P/E/G ratio of 2.99 and a beta of 0.59. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The firm has a 50 day moving average of $76.06 and a two-hundred day moving average of $70.20.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. The business’s revenue was up .1% on a year-over-year basis. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Analyst Ratings Changes

A number of brokerages have commented on PEG. Morgan Stanley reduced their target price on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Royal Bank of Canada upped their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. BMO Capital Markets upped 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 report on Friday, August 2nd. Finally, Scotiabank lifted their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.08.

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.