Calamos Advisors LLC Cuts Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Calamos Advisors LLC decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 149,755 shares of the utilities provider’s stock after selling 1,957 shares during the period. Calamos Advisors LLC’s holdings in Public Service Enterprise Group were worth $9,158,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Public Service Enterprise Group by 13.0% during the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock worth $3,509,864,000 after purchasing an additional 7,103,657 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Public Service Enterprise Group by 259.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,504,200 shares of the utilities provider’s stock worth $275,973,000 after purchasing an additional 3,252,500 shares in the last quarter. Norges Bank purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter worth about $141,476,000. Prudential Financial Inc. increased its stake in shares of Public Service Enterprise Group by 196.2% during the first quarter. Prudential Financial Inc. now owns 1,892,166 shares of the utilities provider’s stock worth $132,451,000 after purchasing an additional 1,253,283 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Public Service Enterprise Group during the first quarter worth about $74,050,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,948 shares of company stock worth $510,300. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $65.74 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. The firm has a market capitalization of $32.78 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 2.85 and a beta of 0.58. The company’s 50-day moving average is $63.84 and its two-hundred day moving average is $61.92. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $67.51.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period in the previous year, the business posted $0.64 EPS. Public Service Enterprise Group’s revenue was down 17.0% on a year-over-year basis. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 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, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.65%. Public Service Enterprise Group’s dividend payout ratio is currently 46.78%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PEG shares. Morgan Stanley reissued an “overweight” rating and set a $70.00 target price (up previously from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Barclays upped their price objective 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 Monday, April 15th. Wells Fargo & Company upped their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Royal Bank of Canada upped their price objective on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Finally, Guggenheim cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective for the company. in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $67.58.

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.