Forsta AP Fonden Sells 15,800 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Forsta AP Fonden decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) by 7.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 211,300 shares of the utilities provider’s stock after selling 15,800 shares during the quarter. Forsta AP Fonden’s holdings in Public Service Enterprise Group were worth $14,791,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Bromfield Sneider Wealth Advisors purchased a new stake in Public Service Enterprise Group in the first quarter worth about $27,000. Covestor Ltd purchased a new stake in Public Service Enterprise Group in the fourth quarter worth about $32,000. Elmwood Wealth Management Inc. purchased a new stake in Public Service Enterprise Group in the fourth quarter worth about $33,000. Cassady Schiller Wealth Management LLC purchased a new stake in Public Service Enterprise Group in the fourth quarter worth about $42,000. Finally, MCF Advisors LLC purchased a new stake in Public Service Enterprise Group in the first quarter worth about $42,000. Institutional investors own 70.82% of the company’s stock.

Public Service Enterprise Group Stock Up 0.0 %

NYSE:PEG opened at $64.74 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $58.19 and a 1 year high of $75.61. The business has a 50 day simple moving average of $63.21 and a 200-day simple moving average of $66.34. The company has a quick ratio of 0.79, a current ratio of 0.78 and a debt-to-equity ratio of 1.23.

Public Service Enterprise Group (NYSE:PEGGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.01). The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.78 billion. Public Service Enterprise Group had a negative net margin of 10.59% and a positive return on equity of 13.25%. Public Service Enterprise Group’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 earnings per share. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.48 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Thursday, September 8th. Public Service Enterprise Group’s payout ratio is -110.20%.

Analyst Ratings Changes

A number of analysts have commented on PEG shares. StockNews.com cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Wednesday. Mizuho cut their target price on Public Service Enterprise Group from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, July 12th. Barclays cut their target price on Public Service Enterprise Group from $75.00 to $66.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Wells Fargo & Company cut their target price on Public Service Enterprise Group from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, TheStreet cut Public Service Enterprise Group from a “b” rating to a “c” rating in a research report on Monday, June 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average target price of $70.36.

Insider Activity

In related news, CEO Ralph Izzo sold 9,883 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $64.15, for a total transaction of $633,994.45. Following the completion of the sale, the chief executive officer now directly owns 447,656 shares of the company’s stock, valued at approximately $28,717,132.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Ralph A. Larossa sold 1,054 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $65.76, for a total transaction of $69,311.04. Following the completion of the sale, the chief operating officer now directly owns 61,259 shares of the company’s stock, valued at approximately $4,028,391.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ralph Izzo sold 9,883 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $64.15, for a total value of $633,994.45. Following the sale, the chief executive officer now directly owns 447,656 shares of the company’s stock, valued at $28,717,132.40. The disclosure for this sale can be found here. Insiders sold 32,357 shares of company stock valued at $2,133,525 in the last ninety days. Insiders own 0.55% of the company’s stock.

Public Service Enterprise Group Profile

(Get Rating)

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 PSEG 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.

See Also

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

Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.