Miles Capital Inc. cut its stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,669 shares of the utilities provider’s stock after selling 673 shares during the period. Miles Capital Inc.’s holdings in Public Service Enterprise Group were worth $925,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Capital Investment Advisory Services LLC grew its stake in Public Service Enterprise Group by 123.0% during the third quarter. Capital Investment Advisory Services LLC now owns 475 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 262 shares during the period. Stonebridge Capital Advisors LLC bought a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $29,000. Resources Management Corp CT ADV bought a new stake in Public Service Enterprise Group in the 3rd quarter valued at about $31,000. Bridger Capital Management LLC bought a new stake in Public Service Enterprise Group in the 3rd quarter valued at about $50,000. Finally, Corbenic Partners LLC acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $63,000. Institutional investors and hedge funds own 69.36% of the company’s stock.
In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 1,650 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $58.55, for a total value of $96,607.50. Following the transaction, the chief operating officer now owns 76,069 shares of the company’s stock, valued at $4,453,839.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel J. Cregg sold 625 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $58.59, for a total value of $36,618.75. Following the completion of the transaction, the chief financial officer now directly owns 54,648 shares in the company, valued at approximately $3,201,826.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,975 shares of company stock worth $358,011. 0.51% of the stock is owned by corporate insiders.
A number of equities research analysts have commented on PEG shares. Wolfe Research cut Public Service Enterprise Group from an “outperform” rating to a “peer perform” rating and set a $64.00 price objective for the company. in a research note on Thursday, November 14th. Royal Bank of Canada reaffirmed a “hold” rating and set a $65.00 target price on shares of Public Service Enterprise Group in a research report on Sunday. Mizuho upped their target price on Public Service Enterprise Group from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, November 27th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $64.16.
PEG stock traded down $0.09 during mid-day trading on Tuesday, reaching $59.07. 38,651 shares of the company traded hands, compared to its average volume of 2,208,350. The company has a quick ratio of 0.52, a current ratio of 0.75 and a debt-to-equity ratio of 0.99. The firm’s 50 day moving average price is $58.63 and its 200 day moving average price is $60.01. The stock has a market cap of $29.92 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 4.26 and a beta of 0.24. Public Service Enterprise Group Inc. has a fifty-two week low of $51.68 and a fifty-two week high of $63.88.
Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.95 by $0.03. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.55 billion. Public Service Enterprise Group had a return on equity of 11.01% and a net margin of 14.45%. During the same period in the prior year, the business posted $0.95 earnings per share. On average, analysts anticipate that Public Service Enterprise Group Inc. will post 3.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Monday, December 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 60.26%.
Public Service Enterprise Group Company Profile
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 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 to customers.
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