Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC trimmed its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 16.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,829 shares of the utilities provider’s stock after selling 771 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Public Service Enterprise Group were worth $282,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Family Firm Inc. acquired a new stake in shares of Public Service Enterprise Group in the second quarter worth approximately $33,000. OFI Invest Asset Management purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at $35,000. Northwest Investment Counselors LLC purchased a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at $36,000. Salomon & Ludwin LLC raised its position in shares of Public Service Enterprise Group by 1,866.7% in the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after buying an additional 560 shares during the period. Finally, Scarborough Advisors LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth $41,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $82.20 on Thursday. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $82.34. The stock has a market cap of $40.94 billion, a P/E ratio of 22.77, a PEG ratio of 2.91 and a beta of 0.60. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. The firm has a 50-day moving average of $78.42 and a two-hundred day moving average of $72.52.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business earned $0.70 EPS. Public Service Enterprise Group’s revenue for the quarter was up .1% compared to the same quarter last year. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a yield of 2.92%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.48%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the sale, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock in a transaction on Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the transaction, the executive vice president now owns 57,961 shares of the company’s stock, valued at $4,610,217.94. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the sale, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The disclosure for this sale can be found here. Insiders sold a total of 30,068 shares of company stock valued at $2,406,965 in the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PEG shares. Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Monday, June 17th. 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 research report on Thursday, May 23rd. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Morgan Stanley raised their target price on shares of Public Service Enterprise Group from $78.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, BMO Capital Markets increased their price target on Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.33.

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.