Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by LMR Partners LLP

LMR Partners LLP lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 64.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,827 shares of the utilities provider’s stock after selling 5,076 shares during the period. LMR Partners LLP’s holdings in Public Service Enterprise Group were worth $252,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Public Service Enterprise Group in the third quarter valued at $35,000. Family Firm Inc. purchased a new position in Public Service Enterprise Group during the second quarter worth about $33,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group during the second quarter worth about $35,000. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group during the third quarter worth about $48,000. Finally, Country Trust Bank acquired a new position in Public Service Enterprise Group during the second quarter worth about $52,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in 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 on the stock in a research report on Tuesday, November 5th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Bank of America raised their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. UBS Group raised their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company raised their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average target price of $86.69.

Insider Buying and Selling at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the transaction, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at $4,385,252.17. The trade was a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group 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 completion of the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. This represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,783 shares of company stock valued at $2,381,626. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Trading Up 0.4 %

Shares of Public Service Enterprise Group stock opened at $90.49 on Thursday. The company’s fifty day simple moving average is $88.03 and its 200-day simple moving average is $80.38. The company has a market cap of $45.08 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 3.27 and a beta of 0.61. 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 Incorporated has a 1 year low of $56.85 and a 1 year high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the company posted $0.85 earnings per share. Public Service Enterprise Group’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.65%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

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.