Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Holdings Lessened by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,469 shares of the utilities provider’s stock after selling 133 shares during the period. Gateway Investment Advisers LLC’s holdings in Public Service Enterprise Group were worth $203,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Transce3nd LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $25,000. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $25,000. REAP Financial Group LLC increased its holdings in shares of Public Service Enterprise Group by 105.9% in the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock valued at $27,000 after buying an additional 162 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $35,000. Finally, OFI Invest Asset Management bought a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $39,000. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Wall Street Zen cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 1st. Barclays lowered their price objective on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company lowered their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley lowered their price objective on shares of Public Service Enterprise Group from $102.00 to $101.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. Finally, BMO Capital Markets lowered their price objective on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $89.63.

Public Service Enterprise Group Trading Down 0.7%

Shares of NYSE:PEG opened at $79.62 on Tuesday. The firm has a fifty day moving average of $80.11 and a two-hundred day moving average of $83.21. The firm has a market capitalization of $39.73 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 12-month low of $71.89 and a 12-month high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the business posted $1.31 EPS. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group’s payout ratio is presently 68.85%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the completion of the transaction, the chief executive officer now owns 221,093 shares of the company’s stock, valued at $17,523,831.18. The trade was a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by company insiders.

About Public Service Enterprise Group

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.