Level Four Advisory Services LLC Sells 319 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Level Four Advisory Services LLC trimmed its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.7% in the first quarter, Holdings Channel.com reports. The fund owned 4,448 shares of the utilities provider’s stock after selling 319 shares during the quarter. Level Four Advisory Services LLC’s holdings in Public Service Enterprise Group were worth $278,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Cranbrook Wealth Management LLC acquired a new stake in Public Service Enterprise Group in the first quarter valued at approximately $25,000. Ahrens Investment Partners LLC purchased a new position in shares of Public Service Enterprise Group during the first quarter valued at approximately $31,000. ICA Group Wealth Management LLC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $31,000. Clear Street Markets LLC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $31,000. Finally, Guardian Wealth Advisors LLC bought a new stake in Public Service Enterprise Group during the first quarter worth $37,000. 72.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Royal Bank of Canada dropped their price target on Public Service Enterprise Group from $70.00 to $69.00 and set an “outperform” rating on the stock in a report on Wednesday, September 6th. Morgan Stanley reduced their price target on Public Service Enterprise Group from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, August 23rd. JPMorgan Chase & Co. boosted their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, August 17th. StockNews.com initiated coverage on Public Service Enterprise Group in a report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, UBS Group lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lowered their target price for the company from $70.00 to $66.00 in a research note on Monday, August 14th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.38.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $61.33 on Tuesday. Public Service Enterprise Group Incorporated has a 52 week low of $52.51 and a 52 week high of $66.67. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.09. The business’s 50-day simple moving average is $61.71 and its two-hundred day simple moving average is $61.66. The stock has a market cap of $30.61 billion, a PE ratio of 11.03, a P/E/G ratio of 3.26 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. Public Service Enterprise Group had a return on equity of 12.64% and a net margin of 23.99%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the business posted $0.64 earnings per share. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, analysts forecast that Public Service Enterprise Group Incorporated will post 3.45 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.72%. Public Service Enterprise Group’s dividend payout ratio is 41.01%.

Insider Activity

In other news, CEO Ralph A. Larossa sold 8,074 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $64.45, for a total transaction of $520,369.30. Following the transaction, the chief executive officer now owns 115,306 shares of the company’s stock, valued at $7,431,471.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 4,168 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $63.01, for a total transaction of $262,625.68. Following the completion of the sale, the chief executive officer now owns 122,572 shares in the company, valued at $7,723,261.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 8,074 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $64.45, for a total value of $520,369.30. Following the sale, the chief executive officer now owns 115,306 shares of the company’s stock, valued at approximately $7,431,471.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,442 shares of company stock valued at $795,147. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in Mid-Atlantic United States. The company operates through 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.