Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Moody National Bank Trust Division

Moody National Bank Trust Division cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,262 shares of the utilities provider’s stock after selling 655 shares during the period. Moody National Bank Trust Division’s holdings in Public Service Enterprise Group were worth $813,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PEG. D.A. Davidson & CO. increased its position in shares of Public Service Enterprise Group by 7.5% during the first quarter. D.A. Davidson & CO. now owns 3,657 shares of the utilities provider’s stock worth $256,000 after purchasing an additional 256 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Public Service Enterprise Group by 6.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,318,721 shares of the utilities provider’s stock valued at $92,310,000 after acquiring an additional 83,174 shares during the period. Prudential PLC acquired a new position in shares of Public Service Enterprise Group in the 1st quarter valued at $798,000. Cetera Investment Advisers increased its position in shares of Public Service Enterprise Group by 1.3% in the 1st quarter. Cetera Investment Advisers now owns 25,619 shares of the utilities provider’s stock valued at $1,793,000 after acquiring an additional 332 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the 1st quarter valued at $214,000. 70.67% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Down 1.1 %

Shares of NYSE:PEG opened at $58.53 on Friday. Public Service Enterprise Group Incorporated has a 12-month low of $52.51 and a 12-month high of $75.61. The company has a market capitalization of $29.19 billion, a PE ratio of 28.41, a PEG ratio of 10.04 and a beta of 0.55. The business has a 50 day moving average of $60.74 and a two-hundred day moving average of $60.14. The company has a current ratio of 0.64, a quick ratio of 0.50 and a debt-to-equity ratio of 1.20.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last posted its quarterly earnings data on Tuesday, February 21st. The utilities provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Public Service Enterprise Group had a return on equity of 12.88% and a net margin of 10.52%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 earnings per share. As a group, analysts forecast that Public Service Enterprise Group Incorporated will post 3.43 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be given a $0.57 dividend. The ex-dividend date of this dividend is Thursday, March 9th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.54. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.90%. Public Service Enterprise Group’s payout ratio is 110.68%.

Insider Activity

In other news, COO Eric Carr sold 7,105 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $57.63, for a total value of $409,461.15. Following the completion of the sale, the chief operating officer now directly owns 6,482 shares in the company, valued at $373,557.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PEG shares. StockNews.com started coverage on Public Service Enterprise Group in a research report on Thursday. They issued a “hold” rating on the stock. TheStreet raised Public Service Enterprise Group from a “c” rating to a “b” rating in a research report on Tuesday, February 21st. Guggenheim cut their target price on Public Service Enterprise Group from $71.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, February 22nd. BMO Capital Markets cut their target price on Public Service Enterprise Group from $64.00 to $60.00 and set a “market perform” rating on the stock in a research report on Monday, March 13th. Finally, Mizuho reduced their price objective on Public Service Enterprise Group from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, March 13th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $67.20.

Public Service Enterprise Group Profile

(Get Rating)

Public Service Enterprise Group, Inc is an energy company, which engages in the business of regulated electric and gas utility, and nuclear generation. Its products and services include energy, capacity, ancillary services, and emissions allowances and congestion credits. The firm operates through the Public Service Electric and Gas Company (PSE&G) and PSEG Power segments.