Mystic Asset Management Inc. Sells 300 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Mystic Asset Management Inc. reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,844 shares of the utilities provider’s stock after selling 300 shares during the quarter. Mystic Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $316,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in Public Service Enterprise Group during the fourth quarter valued at about $445,005,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Public Service Enterprise Group by 604.5% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock valued at $169,404,000 after acquiring an additional 1,719,614 shares during the period. Schroder Investment Management Group raised its holdings in Public Service Enterprise Group by 234.1% during the fourth quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider’s stock valued at $178,900,000 after acquiring an additional 1,483,662 shares during the period. Assenagon Asset Management S.A. raised its holdings in Public Service Enterprise Group by 476.9% during the first quarter. Assenagon Asset Management S.A. now owns 919,218 shares of the utilities provider’s stock valued at $75,652,000 after acquiring an additional 759,873 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Public Service Enterprise Group by 151.2% during the fourth quarter. Russell Investments Group Ltd. now owns 1,064,829 shares of the utilities provider’s stock valued at $89,967,000 after acquiring an additional 640,949 shares during the period. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Up 1.9%

Shares of NYSE:PEG opened at $84.31 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25. Public Service Enterprise Group Incorporated has a 12 month low of $73.77 and a 12 month high of $95.22. The company has a 50-day moving average price of $80.98 and a 200 day moving average price of $82.09. The company has a market cap of $42.07 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 2.97 and a beta of 0.48.

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

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Monday, June 9th. Public Service Enterprise Group’s payout ratio is 68.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PEG shares. UBS Group raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $86.00 to $97.00 in a report on Monday, July 7th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Barclays cut their price objective on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, July 10th. Evercore ISI cut their price objective on Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a research report 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 research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.86.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the transaction, the chief executive officer owned 218,328 shares of the company’s stock, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group 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.