Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,509 shares of the utilities provider’s stock after selling 496 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Public Service Enterprise Group were worth $337,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Public Service Enterprise Group by 13.0% during the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after buying an additional 7,103,657 shares during the period. Hsbc Holdings PLC raised its position in shares of Public Service Enterprise Group by 118.1% during the third quarter. Hsbc Holdings PLC now owns 1,364,088 shares of the utilities provider’s stock worth $77,544,000 after purchasing an additional 738,684 shares during the period. Assetmark Inc. boosted its position in Public Service Enterprise Group by 562.8% during the third quarter. Assetmark Inc. now owns 869,856 shares of the utilities provider’s stock valued at $49,504,000 after purchasing an additional 738,619 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Public Service Enterprise Group by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after acquiring an additional 726,613 shares during the period. Finally, Bank of Nova Scotia raised its stake in shares of Public Service Enterprise Group by 1,350.4% in the third quarter. Bank of Nova Scotia now owns 533,354 shares of the utilities provider’s stock valued at $30,353,000 after purchasing an additional 496,581 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Bank of America upped their target price on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 price objective (up from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Evercore ISI lifted their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, BMO Capital Markets cut their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $67.15.

Public Service Enterprise Group Trading Up 0.9 %

NYSE:PEG traded up $0.64 during midday trading on Thursday, hitting $73.20. 1,046,650 shares of the company traded hands, compared to its average volume of 2,886,816. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19. The firm’s fifty day moving average is $66.00 and its 200-day moving average is $62.80. The firm has a market capitalization of $36.46 billion, a P/E ratio of 20.26, a P/E/G ratio of 3.08 and a beta of 0.56. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $73.29.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the business posted $1.39 EPS. Public Service Enterprise Group’s revenue was down 26.5% compared to the same quarter last year. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.66 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, June 28th. Shareholders of record on Friday, June 7th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.28%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total value of $95,561.70. Following the completion of the sale, the chief executive officer now directly owns 150,973 shares in the company, valued at $10,500,172.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the transaction, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred 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 approximately $10,500,172.15. The disclosure for this sale can be found here. Insiders have sold 9,322 shares of company stock valued at $607,376 in the last 90 days. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Company 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.