Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Altrius Capital Management Inc

Altrius Capital Management Inc cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,100 shares of the utilities provider’s stock after selling 200 shares during the period. Altrius Capital Management Inc’s holdings in Public Service Enterprise Group were worth $302,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. TD Asset Management Inc boosted its stake in Public Service Enterprise Group by 16.6% in the fourth quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider’s stock valued at $23,047,000 after acquiring an additional 53,577 shares during the period. QRG Capital Management Inc. grew its stake in Public Service Enterprise Group by 28.0% during the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock worth $5,227,000 after buying an additional 15,505 shares during the last quarter. CWM LLC increased its position in Public Service Enterprise Group by 72.3% in the second quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock worth $1,532,000 after buying an additional 8,723 shares during the period. Czech National Bank lifted its stake in Public Service Enterprise Group by 8.3% in the second quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock valued at $6,995,000 after buying an additional 7,235 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Public Service Enterprise Group by 145.5% during the first quarter. SG Americas Securities LLC now owns 64,437 shares of the utilities provider’s stock valued at $4,303,000 after acquiring an additional 38,188 shares during the period. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 0.6 %

Public Service Enterprise Group stock opened at $84.24 on Thursday. The firm’s 50 day moving average price is $79.35 and its two-hundred day moving average price is $73.31. The firm has a market cap of $41.96 billion, a PE ratio of 23.34, a P/E/G ratio of 3.03 and a beta of 0.60. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $85.31. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results 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). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company’s revenue was up .1% compared to the same quarter last year. During the same period last year, the company posted $0.70 earnings per share. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, September 9th. This represents a $2.40 annualized dividend and a dividend yield of 2.85%. Public Service Enterprise Group’s dividend payout ratio is 66.48%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’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 transaction, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,068 shares of company stock valued at $2,406,965. 0.57% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Scotiabank lifted their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Monday, June 17th. Bank of America raised their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, BMO Capital Markets boosted their price target on Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $77.92.

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.