Duff & Phelps Investment Management Co. Cuts Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Duff & Phelps Investment Management Co. decreased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,820,956 shares of the utilities provider’s stock after selling 113,226 shares during the period. Public Service Enterprise Group accounts for approximately 1.3% of Duff & Phelps Investment Management Co.’s portfolio, making the stock its 23rd biggest position. Duff & Phelps Investment Management Co.’s holdings in Public Service Enterprise Group were worth $111,351,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PEG. Operose Advisors LLC grew its holdings in shares of Public Service Enterprise Group by 435.0% in the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 435 shares during the period. Addison Advisors LLC bought a new position in Public Service Enterprise Group during the 4th quarter worth $31,000. CNB Bank acquired a new position in Public Service Enterprise Group during the 3rd quarter worth $34,000. Bruce G. Allen Investments LLC bought a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at about $36,000. Finally, Anchor Investment Management LLC bought a new stake in Public Service Enterprise Group in the fourth quarter worth about $37,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Up 1.5 %

Shares of NYSE:PEG traded up $1.02 during trading on Tuesday, hitting $69.66. The company had a trading volume of 1,526,575 shares, compared to its average volume of 2,824,150. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $69.72. 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 stock has a market cap of $34.73 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58. The company has a fifty day simple moving average of $64.82 and a two-hundred day simple moving average of $62.37.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same period last year, the business posted $0.64 EPS. The business’s revenue was down 17.0% compared to the same quarter last year. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share 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 3.45%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 46.78%.

Wall Street Analyst Weigh In

PEG has been the topic of several research analyst reports. TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. Barclays boosted their price objective on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Bank of America upped their price target on Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Guggenheim lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a research note on Monday, January 22nd. Finally, BMO Capital Markets cut their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $67.15.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the sale, the chief executive officer now directly owns 152,347 shares in the company, valued at approximately $10,111,270.39. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the transaction, the chief executive officer now directly owns 152,347 shares in the company, valued at approximately $10,111,270.39. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,948 shares of company stock valued at $511,814. 0.18% of the stock is owned by company insiders.

Public Service Enterprise Group 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.