Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Advisors Management Group Inc. ADV

Advisors Management Group Inc. ADV decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,006 shares of the utilities provider’s stock after selling 1,208 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in Public Service Enterprise Group were worth $2,875,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEG. Bryn Mawr Capital Management LLC lifted its holdings in shares of Public Service Enterprise Group by 0.5% in the 2nd quarter. Bryn Mawr Capital Management LLC now owns 25,739 shares of the utilities provider’s stock valued at $1,905,000 after buying an additional 135 shares during the period. Evergreen Wealth Solutions LLC lifted its holdings in Public Service Enterprise Group by 1.7% in the first quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock valued at $648,000 after acquiring an additional 159 shares during the period. KCM Investment Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 0.3% in the 2nd quarter. KCM Investment Advisors LLC now owns 67,327 shares of the utilities provider’s stock valued at $4,962,000 after purchasing an additional 180 shares during the period. PDS Planning Inc boosted its holdings in Public Service Enterprise Group by 4.2% during the first quarter. PDS Planning Inc now owns 4,530 shares of the utilities provider’s stock worth $303,000 after buying an additional 181 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its position in Public Service Enterprise Group by 2.4% during the second quarter. Pine Valley Investments Ltd Liability Co now owns 7,857 shares of the utilities provider’s stock valued at $579,000 after buying an additional 182 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.4 %

Shares of NYSE:PEG traded up $0.34 during trading on Friday, hitting $80.75. The company’s stock had a trading volume of 4,437,682 shares, compared to its average volume of 2,809,733. The company has a market capitalization of $40.22 billion, a PE ratio of 22.37, a P/E/G ratio of 3.00 and a beta of 0.59. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $81.89. The business has a 50 day moving average price of $77.29 and a two-hundred day moving average price of $71.27.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $2.03 billion. During the same quarter last year, the company earned $0.70 EPS. Public Service Enterprise Group’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

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

Insider Buying and Selling

In related news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.57% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of analyst reports. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Morgan Stanley raised their price objective on Public Service Enterprise Group from $78.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Bank of America lifted their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday. Scotiabank upped their price target on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. 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 company an “outperform” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.33.

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.