Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp lowered its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,157 shares of the utilities provider’s stock after selling 1,341 shares during the period. Hancock Whitney Corp’s holdings in Public Service Enterprise Group were worth $2,632,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PEG. Foundations Investment Advisors LLC boosted its stake in shares of Public Service Enterprise Group by 27.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after purchasing an additional 18,627 shares during the period. Cullen Investment Group LTD. lifted its holdings in Public Service Enterprise Group by 65.3% in the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after buying an additional 10,610 shares in the last quarter. Arvest Bank Trust Division purchased a new position in Public Service Enterprise Group in the 3rd quarter valued at about $2,860,000. Parsons Capital Management Inc. RI acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at about $2,565,000. Finally, Czech National Bank grew its stake in shares of Public Service Enterprise Group by 6.4% during the fourth quarter. Czech National Bank now owns 108,025 shares of the utilities provider’s stock valued at $9,127,000 after acquiring an additional 6,545 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.2 %

Shares of Public Service Enterprise Group stock opened at $81.70 on Friday. The firm has a market capitalization of $40.73 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. The company’s fifty day moving average price is $81.70 and its two-hundred day moving average price is $85.28. Public Service Enterprise Group Incorporated has a 52-week low of $66.57 and a 52-week high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The business’s revenue was down 5.4% on a year-over-year basis. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PEG shares. BMO Capital Markets reduced their target price on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research note on Thursday, April 10th. Guggenheim reiterated a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 16th. Barclays reduced their price target 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. Finally, Morgan Stanley boosted their price objective on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.35.

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.