CSM Advisors LLC Sells 385 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

CSM Advisors LLC trimmed its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.4% in the 4th quarter, Holdings Channel reports. The firm owned 88,979 shares of the utilities provider’s stock after selling 385 shares during the period. CSM Advisors LLC’s holdings in Public Service Enterprise Group were worth $7,517,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEG. Pine Valley Investments Ltd Liability Co raised its stake in shares of Public Service Enterprise Group by 8.5% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 8,527 shares of the utilities provider’s stock worth $761,000 after buying an additional 670 shares during the period. World Investment Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth about $4,403,000. Arvest Bank Trust Division bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at approximately $2,860,000. Wilmington Savings Fund Society FSB boosted its holdings in shares of Public Service Enterprise Group by 30.5% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 10,189 shares of the utilities provider’s stock worth $909,000 after purchasing an additional 2,384 shares during the period. Finally, Tidal Investments LLC increased its position in shares of Public Service Enterprise Group by 26.9% during the 3rd quarter. Tidal Investments LLC now owns 16,306 shares of the utilities provider’s stock valued at $1,455,000 after purchasing an additional 3,461 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $81.99 on Wednesday. The company’s fifty day moving average is $81.78 and its two-hundred day moving average is $85.36. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The firm has a market capitalization of $40.88 billion, a P/E ratio of 20.15, a PEG ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group Incorporated has a one year low of $65.36 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.07%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PEG shares. Guggenheim reissued a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Barclays reduced their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 16th. Finally, Bank of America decreased their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.35.

About Public Service Enterprise Group

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.