Bokf Na Sells 1,684 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Bokf Na decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 132,022 shares of the utilities provider’s stock after selling 1,684 shares during the period. Bokf Na’s holdings in Public Service Enterprise Group were worth $11,120,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PEG. Foundations Investment Advisors LLC raised its position in shares of Public Service Enterprise Group by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock worth $7,403,000 after purchasing an additional 18,627 shares during the last quarter. Cullen Investment Group LTD. raised its holdings in Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after buying an additional 10,610 shares during the last quarter. Parsons Capital Management Inc. RI bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth approximately $2,565,000. Czech National Bank lifted its stake in shares of Public Service Enterprise Group by 6.4% in the fourth quarter. Czech National Bank now owns 108,025 shares of the utilities provider’s stock worth $9,127,000 after buying an additional 6,545 shares in the last quarter. Finally, Avanza Fonder AB purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $4,736,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PEG. Barclays decreased their target price on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Bank of America decreased their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. BMO Capital Markets dropped their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating on the stock in a report on Thursday, April 10th. Evercore ISI decreased their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Finally, Guggenheim cut their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $88.81.

Public Service Enterprise Group Price Performance

PEG opened at $78.34 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The business has a fifty day moving average of $81.11 and a 200 day moving average of $84.76. Public Service Enterprise Group Incorporated has a 52-week low of $70.28 and a 52-week high of $95.22. The stock has a market cap of $39.09 billion, a P/E ratio of 19.25, a PEG ratio of 2.78 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.43. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.31 earnings per share. 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 business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 68.85%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total transaction of $109,220.28. Following the transaction, the chief executive officer now directly owns 221,093 shares in the company, valued at $17,523,831.18. The trade was a 0.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.19% of the company’s stock.

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.