NorthCrest Asset Manangement LLC Sells 131 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

NorthCrest Asset Manangement LLC lessened its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,883 shares of the utilities provider’s stock after selling 131 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Public Service Enterprise Group were worth $751,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC increased its stake in Public Service Enterprise Group by 10.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 66,610 shares of the utilities provider’s stock valued at $5,628,000 after purchasing an additional 6,532 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in Public Service Enterprise Group in the fourth quarter valued at $421,000. KBC Group NV increased its stake in Public Service Enterprise Group by 21.6% in the fourth quarter. KBC Group NV now owns 124,966 shares of the utilities provider’s stock valued at $10,558,000 after purchasing an additional 22,231 shares in the last quarter. Swedbank AB increased its stake in Public Service Enterprise Group by 6.2% in the fourth quarter. Swedbank AB now owns 451,264 shares of the utilities provider’s stock valued at $38,127,000 after purchasing an additional 26,259 shares in the last quarter. Finally, Crews Bank & Trust bought a new stake in Public Service Enterprise Group in the fourth quarter valued at $788,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 1.8%

Public Service Enterprise Group stock opened at $79.53 on Friday. Public Service Enterprise Group Incorporated has a fifty-two week low of $71.89 and a fifty-two week high of $95.22. The stock has a market cap of $39.68 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The firm’s 50-day simple moving average is $80.31 and its 200 day simple moving average is $83.71. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the previous year, the company earned $1.31 earnings per share. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 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, June 30th. Shareholders of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s payout ratio is 68.85%.

Analyst Ratings Changes

Several research firms have weighed in on PEG. Morgan Stanley decreased their price target on shares of Public Service Enterprise Group from $102.00 to $101.00 and set an “overweight” rating for the company in a research note on Thursday, May 22nd. Barclays decreased their target price on shares of 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. BMO Capital Markets decreased their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company decreased their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $89.63.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the transaction, the chief executive officer now directly owns 221,670 shares in the company, valued at $18,372,009.60. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.