CENTRAL TRUST Co Sells 857 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

CENTRAL TRUST Co lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 23.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,857 shares of the utilities provider’s stock after selling 857 shares during the quarter. CENTRAL TRUST Co’s holdings in Public Service Enterprise Group were worth $235,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Berkshire Bank increased its stake in shares of Public Service Enterprise Group by 9.6% in the first quarter. Berkshire Bank now owns 5,159 shares of the utilities provider’s stock worth $425,000 after purchasing an additional 452 shares in the last quarter. Grove Bank & Trust boosted its holdings in Public Service Enterprise Group by 101.1% in the 1st quarter. Grove Bank & Trust now owns 3,141 shares of the utilities provider’s stock worth $259,000 after buying an additional 1,579 shares during the period. QRG Capital Management Inc. grew its stake in Public Service Enterprise Group by 3.5% in the 1st quarter. QRG Capital Management Inc. now owns 46,438 shares of the utilities provider’s stock valued at $3,822,000 after buying an additional 1,566 shares in the last quarter. Sagespring Wealth Partners LLC raised its holdings in Public Service Enterprise Group by 10.7% during the 1st quarter. Sagespring Wealth Partners LLC now owns 10,805 shares of the utilities provider’s stock valued at $889,000 after acquiring an additional 1,046 shares during the period. Finally, Great Lakes Retirement Inc. raised its holdings in Public Service Enterprise Group by 3.8% during the 1st quarter. Great Lakes Retirement Inc. now owns 30,015 shares of the utilities provider’s stock valued at $2,470,000 after acquiring an additional 1,110 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of analyst reports. BMO Capital Markets decreased their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating on the stock in a research note on Thursday, April 10th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a research report on Wednesday, March 19th. Barclays cut their price objective 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. Bank of America reduced 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 research note on Monday, March 3rd. Finally, Morgan Stanley lowered their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Hold” and an average target price of $89.54.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares in the company, valued at approximately $18,372,009.60. The trade was a 0.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $81.99 on Friday. The company’s fifty day moving average price is $80.35 and its 200-day moving average price is $82.66. The firm has a market capitalization of $40.92 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 2.94 and a beta of 0.48. Public Service Enterprise Group Incorporated has a one year low of $72.82 and a one year high of $95.22. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.82 and a quick ratio of 0.65.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the business earned $1.31 earnings per share. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company 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 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio is currently 68.85%.

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.