Lockheed Martin Investment Management Co. Sells 13,100 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Lockheed Martin Investment Management Co. lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) by 27.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,500 shares of the utilities provider’s stock after selling 13,100 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Public Service Enterprise Group were worth $2,183,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PEG. Tcwp LLC purchased a new position in shares of Public Service Enterprise Group during the 1st quarter worth $28,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth $30,000. Tradition Wealth Management LLC purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth $33,000. Total Clarity Wealth Management Inc. purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth $34,000. Finally, Capital Analysts LLC purchased a new position in shares of Public Service Enterprise Group during the 1st quarter worth $35,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Public Service Enterprise Group from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 1st. The Goldman Sachs Group lifted their target price on shares of Public Service Enterprise Group from $75.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, October 4th. BMO Capital Markets lowered their target price on shares of Public Service Enterprise Group from $64.00 to $59.00 and set a “market perform” rating on the stock in a research note on Monday, November 14th. Wolfe Research cut shares of Public Service Enterprise Group from an “outperform” rating to a “peer perform” rating in a research note on Thursday, November 17th. Finally, Morgan Stanley lifted their target price on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, November 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $68.08.

Public Service Enterprise Group Price Performance

NYSE PEG traded up $0.66 on Thursday, reaching $59.01. The company had a trading volume of 2,166,574 shares, compared to its average volume of 3,976,815. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $29.44 billion, a PE ratio of 43.39, a price-to-earnings-growth ratio of 5.24 and a beta of 0.57. The firm’s 50 day moving average price is $57.99 and its 200 day moving average price is $62.65. Public Service Enterprise Group Incorporated has a 12 month low of $52.51 and a 12 month high of $75.61.

Public Service Enterprise Group (NYSE:PEGGet Rating) last posted its earnings results on Monday, October 31st. The utilities provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $1.98 billion. Public Service Enterprise Group had a net margin of 7.08% and a return on equity of 12.96%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.44 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be issued a dividend of $0.54 per share. The ex-dividend date is Thursday, December 8th. This represents a $2.16 annualized dividend and a yield of 3.66%. Public Service Enterprise Group’s payout ratio is 158.82%.

About Public Service Enterprise Group

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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.

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

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