Pathstone Holdings LLC Trims Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Pathstone Holdings LLC reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 49,806 shares of the utilities provider’s stock after selling 173 shares during the period. Pathstone Holdings LLC’s holdings in Public Service Enterprise Group were worth $4,443,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PEG. Raymond James & Associates boosted its holdings in shares of Public Service Enterprise Group by 315.2% during the second quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock worth $162,590,000 after purchasing an additional 1,674,827 shares during the last quarter. Sound Shore Management Inc. CT acquired a new stake in Public Service Enterprise Group in the 2nd quarter worth about $71,298,000. Hsbc Holdings PLC boosted its stake in Public Service Enterprise Group by 43.2% in the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after buying an additional 732,443 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Public Service Enterprise Group by 381.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock valued at $59,023,000 after buying an additional 634,587 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of Public Service Enterprise Group during the 1st quarter valued at about $28,132,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PEG. Barclays lowered their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. UBS Group boosted their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Evercore ISI lifted their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Jefferies Financial Group started coverage on Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 target price for the company. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $86.69.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $92.40 on Friday. The firm has a fifty day simple moving average of $88.38 and a 200-day simple moving average of $80.67. The company has a market capitalization of $46.04 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 3.39 and a beta of 0.61. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $93.00. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the prior year, the company posted $0.85 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.60%. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. The trade was a 14.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. The trade was a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,739 shares of company stock valued at $2,467,753 in the last three months. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Company 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.