Woodmont Investment Counsel LLC Sells 157 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Woodmont Investment Counsel LLC reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,224 shares of the utilities provider’s stock after selling 157 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Public Service Enterprise Group were worth $750,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEG. O Shaughnessy Asset Management LLC raised its holdings in Public Service Enterprise Group by 34.7% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 11,391 shares of the utilities provider’s stock valued at $648,000 after buying an additional 2,936 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Public Service Enterprise Group during the 3rd quarter valued at $2,030,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in Public Service Enterprise Group by 28.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 45,330 shares of the utilities provider’s stock valued at $2,580,000 after buying an additional 10,103 shares during the last quarter. AQR Capital Management LLC raised its holdings in Public Service Enterprise Group by 39.7% during the 3rd quarter. AQR Capital Management LLC now owns 429,566 shares of the utilities provider’s stock valued at $24,425,000 after buying an additional 122,178 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its position in Public Service Enterprise Group by 338.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 203,306 shares of the utilities provider’s stock valued at $11,570,000 after purchasing an additional 156,887 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PEG. Mizuho boosted their price objective 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. Barclays boosted their price objective on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Bank of America boosted their price objective on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Evercore ISI boosted their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.50.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the transaction, the chief executive officer now owns 150,973 shares in the company, valued at approximately $10,500,172.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG opened at $73.58 on Wednesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. The stock has a market capitalization of $36.65 billion, a P/E ratio of 20.38, a P/E/G ratio of 3.06 and a beta of 0.59. The company’s 50-day simple moving average is $72.83 and its two-hundred day simple moving average is $65.87. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $75.82.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. Public Service Enterprise Group’s revenue was down 26.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.39 EPS. As a group, analysts predict that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

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.