Mezzasalma Advisors LLC Lowers Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Mezzasalma Advisors LLC lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 18.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,140 shares of the utilities provider’s stock after selling 694 shares during the period. Mezzasalma Advisors LLC’s holdings in Public Service Enterprise Group were worth $210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FORVIS Wealth Advisors LLC lifted its position in Public Service Enterprise Group by 2.7% during the first quarter. FORVIS Wealth Advisors LLC now owns 45,376 shares of the utilities provider’s stock valued at $3,030,000 after purchasing an additional 1,208 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in Public Service Enterprise Group by 1.1% in the first quarter. First Trust Direct Indexing L.P. now owns 17,483 shares of the utilities provider’s stock worth $1,167,000 after acquiring an additional 183 shares in the last quarter. Norden Group LLC bought a new position in Public Service Enterprise Group in the first quarter valued at $510,000. Kowal Investment Group LLC lifted its stake in Public Service Enterprise Group by 35.8% during the first quarter. Kowal Investment Group LLC now owns 5,821 shares of the utilities provider’s stock worth $389,000 after purchasing an additional 1,536 shares during the last quarter. Finally, LVW Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 27.6% in the 1st quarter. LVW Advisors LLC now owns 8,049 shares of the utilities provider’s stock worth $538,000 after purchasing an additional 1,739 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the transaction, the chief executive officer now owns 150,973 shares in the company, valued at $10,500,172.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Trading Up 0.6 %

PEG stock traded up $0.41 during trading on Thursday, reaching $73.99. The company had a trading volume of 1,687,130 shares, compared to its average volume of 2,772,750. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $75.82. The company has a market cap of $36.85 billion, a P/E ratio of 20.50, a PEG ratio of 3.05 and a beta of 0.59. The business has a 50 day moving average of $73.11 and a 200 day moving average of $66.01. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62.

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

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Friday, June 7th. Public Service Enterprise Group’s payout ratio is currently 66.48%.

Analyst Ratings Changes

A number of brokerages have commented on PEG. Mizuho increased their price target 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. Wells Fargo & Company lifted their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Royal Bank of Canada increased their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Morgan Stanley decreased their price target on Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Finally, TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.42.

Public Service Enterprise Group 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.