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CENTRAL TRUST Co Sells 188 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)



CENTRAL TRUST Co lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) by 6.8% in the first quarter, Holdings Channel.com reports. The fund owned 2,568 shares of the utilities provider’s stock after selling 188 shares during the period. CENTRAL TRUST Co’s holdings in Public Service Enterprise Group were worth $180,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. National Bank of Canada FI bought a new position in Public Service Enterprise Group in the fourth quarter worth $1,337,000. Signaturefd LLC raised its holdings in Public Service Enterprise Group by 7.2% in the fourth quarter. Signaturefd LLC now owns 4,472 shares of the utilities provider’s stock worth $298,000 after purchasing an additional 301 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Public Service Enterprise Group by 5.7% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,746 shares of the utilities provider’s stock worth $250,000 after purchasing an additional 203 shares in the last quarter. Van ECK Associates Corp raised its holdings in Public Service Enterprise Group by 15.5% in the fourth quarter. Van ECK Associates Corp now owns 125,711 shares of the utilities provider’s stock worth $8,389,000 after purchasing an additional 16,849 shares in the last quarter. Finally, Regentatlantic Capital LLC raised its holdings in Public Service Enterprise Group by 21.1% in the fourth quarter. Regentatlantic Capital LLC now owns 56,190 shares of the utilities provider’s stock worth $3,750,000 after purchasing an additional 9,787 shares in the last quarter. Institutional investors own 70.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PEG shares. Credit Suisse Group started coverage on Public Service Enterprise Group in a report on Monday, April 25th. They issued a “neutral” rating and a $76.00 price objective for the company. TheStreet downgraded Public Service Enterprise Group from a “b” rating to a “c” rating in a report on Monday, June 13th. Barclays decreased their price objective on Public Service Enterprise Group from $75.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. Morgan Stanley cut their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Monday, May 23rd. Finally, StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Monday, May 9th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.45.

Public Service Enterprise Group Trading Up 1.0 %

Public Service Enterprise Group stock opened at $60.69 on Tuesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.89 and a quick ratio of 0.79. Public Service Enterprise Group Incorporated has a one year low of $58.19 and a one year high of $75.61. The stock has a market capitalization of $30.30 billion, a PE ratio of -23.61, a price-to-earnings-growth ratio of 4.89 and a beta of 0.56. The business’s fifty day moving average is $63.88 and its 200 day moving average is $66.43.

Public Service Enterprise Group (NYSE:PEGGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.11 by $0.22. Public Service Enterprise Group had a positive return on equity of 12.94% and a negative net margin of 14.19%. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the firm posted $1.28 earnings per share. Public Service Enterprise Group’s revenue was down 19.9% compared to the same quarter last year. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.47 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, September 8th. This represents a $2.16 annualized dividend and a dividend yield of 3.56%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently -84.05%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph Izzo sold 9,883 shares of the stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $68.10, for a total transaction of $673,032.30. Following the sale, the chief executive officer now directly owns 457,539 shares of the company’s stock, valued at $31,158,405.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 30,249 shares of company stock valued at $2,028,900 over the last ninety days. Insiders own 0.55% of the company’s stock.

Public Service Enterprise Group Profile

(Get Rating)

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

See Also

Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating).

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)



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