Valley National Advisers Inc. Sells 787 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Valley National Advisers Inc. cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 28.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,965 shares of the utilities provider’s stock after selling 787 shares during the period. Valley National Advisers Inc.’s holdings in Public Service Enterprise Group were worth $131,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Modera Wealth Management LLC increased its position in shares of Public Service Enterprise Group by 2.6% in the third quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 170 shares during the period. Strategic Investment Advisors MI increased its holdings in Public Service Enterprise Group by 1.0% in the 4th quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock valued at $1,071,000 after buying an additional 179 shares during the period. Lido Advisors LLC raised its position in shares of Public Service Enterprise Group by 4.1% in the 3rd quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock valued at $263,000 after buying an additional 183 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Public Service Enterprise Group by 2.3% during the 4th quarter. Signaturefd LLC now owns 8,495 shares of the utilities provider’s stock worth $519,000 after acquiring an additional 187 shares during the period. Finally, Spire Wealth Management boosted its position in shares of Public Service Enterprise Group by 3.6% during the 4th quarter. Spire Wealth Management now owns 5,479 shares of the utilities provider’s stock worth $321,000 after acquiring an additional 189 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PEG. Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Monday, June 17th. Royal Bank of Canada raised their price objective on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Evercore ISI boosted their target price on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. Finally, Mizuho lifted their price target on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $72.42.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total transaction of $95,561.70. Following the sale, the chief executive officer now owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by insiders.

Public Service Enterprise Group Trading Up 0.6 %

NYSE:PEG traded up $0.43 during trading hours on Wednesday, hitting $74.01. 1,687,115 shares of the company were exchanged, compared to its average volume of 2,856,826. The stock has a market capitalization of $36.86 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 3.06 and a beta of 0.59. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $75.82. The company has a fifty day simple moving average of $72.97 and a 200 day simple moving average of $65.96. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the business earned $1.39 earnings per share. Public Service Enterprise Group’s revenue was down 26.5% compared to the same quarter last year. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Public Service Enterprise Group Company 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.