CS Mckee LP Sells 2,995 Shares of Public Service Enterprise Group Incorporated (PEG)

CS Mckee LP decreased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 366,621 shares of the utilities provider’s stock after selling 2,995 shares during the period. CS Mckee LP owned 0.07% of Public Service Enterprise Group worth $16,956,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Premier Asset Management LLC increased its stake in Public Service Enterprise Group by 0.6% in the 2nd quarter. Premier Asset Management LLC now owns 5,356 shares of the utilities provider’s stock worth $230,000 after acquiring an additional 31 shares during the last quarter. Wsfs Capital Management LLC increased its stake in Public Service Enterprise Group by 0.5% in the 2nd quarter. Wsfs Capital Management LLC now owns 9,123 shares of the utilities provider’s stock worth $392,000 after acquiring an additional 44 shares during the last quarter. FCG Advisors LLC increased its stake in Public Service Enterprise Group by 0.4% in the 2nd quarter. FCG Advisors LLC now owns 12,005 shares of the utilities provider’s stock worth $516,000 after acquiring an additional 52 shares during the last quarter. BRYN MAWR TRUST Co increased its stake in Public Service Enterprise Group by 1.2% in the 2nd quarter. BRYN MAWR TRUST Co now owns 5,961 shares of the utilities provider’s stock worth $256,000 after acquiring an additional 73 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Public Service Enterprise Group by 6.0% in the 2nd quarter. Parallel Advisors LLC now owns 2,772 shares of the utilities provider’s stock worth $125,000 after acquiring an additional 157 shares during the last quarter. 66.77% of the stock is currently owned by institutional investors and hedge funds.

In related news, COO Ralph A. Larossa sold 33,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $50.12, for a total transaction of $1,653,960.00. Following the transaction, the chief operating officer now directly owns 81,241 shares in the company, valued at approximately $4,071,798.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Ralph Izzo sold 20,833 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $52.90, for a total value of $1,102,065.70. Following the transaction, the chairman now owns 687,600 shares in the company, valued at $36,374,040. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 263,951 shares of company stock worth $13,045,041. 0.61% of the stock is owned by corporate insiders.

Public Service Enterprise Group Incorporated (NYSE:PEG) traded up $0.47 on Tuesday, reaching $52.40. The company had a trading volume of 4,183,000 shares, compared to its average volume of 2,830,353. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 0.86. Public Service Enterprise Group Incorporated has a fifty-two week low of $41.67 and a fifty-two week high of $53.28. The company has a market cap of $26,520.00, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 6.49 and a beta of 0.41.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). Public Service Enterprise Group had a return on equity of 11.33% and a net margin of 5.73%. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the business earned $0.88 earnings per share. Public Service Enterprise Group’s revenue was down 7.6% compared to the same quarter last year. equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 2.92 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.72 annualized dividend and a yield of 3.28%. Public Service Enterprise Group’s payout ratio is 168.63%.

Several brokerages have recently commented on PEG. Evercore ISI upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $46.75 to $50.00 in a research report on Monday, September 25th. Bank of America began coverage on Public Service Enterprise Group in a research report on Tuesday, October 24th. They set a “neutral” rating and a $49.00 price objective on the stock. Barclays upgraded Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $49.00 to $51.00 in a research report on Friday, September 22nd. Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Tuesday, October 10th. Finally, Jefferies Group reiterated a “hold” rating and set a $46.50 price objective on shares of Public Service Enterprise Group in a research report on Thursday, October 12th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $50.42.

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About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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