Yousif Capital Management LLC Sells 12,781 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Yousif Capital Management LLC lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 15.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,748 shares of the utilities provider’s stock after selling 12,781 shares during the quarter. Yousif Capital Management LLC’s holdings in Public Service Enterprise Group were worth $5,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Norges Bank acquired a new position in Public Service Enterprise Group in the 4th quarter valued at approximately $445,005,000. Raymond James Financial Inc. bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $376,209,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Public Service Enterprise Group by 604.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock valued at $169,404,000 after purchasing an additional 1,719,614 shares during the period. Schroder Investment Management Group raised its position in Public Service Enterprise Group by 234.1% during the 4th quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider’s stock worth $178,900,000 after purchasing an additional 1,483,662 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Public Service Enterprise Group by 151.2% during the 4th quarter. Russell Investments Group Ltd. now owns 1,064,829 shares of the utilities provider’s stock worth $89,967,000 after buying an additional 640,949 shares during the period. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. BMO Capital Markets lowered their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research report on Thursday, April 10th. Guggenheim dropped their price target on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Wall Street Zen lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Thursday, May 1st. Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Morgan Stanley dropped their target price on shares of Public Service Enterprise Group from $102.00 to $101.00 and set an “overweight” rating on the stock in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $89.63.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 221,093 shares of the company’s stock, valued at $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $80.77 on Thursday. The stock has a 50-day moving average of $80.13 and a 200-day moving average of $83.17. The company has a market cap of $40.30 billion, a PE ratio of 19.84, a P/E/G ratio of 2.78 and a beta of 0.48. 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 Incorporated has a one year low of $71.89 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the firm earned $1.31 earnings per share. Public Service Enterprise Group’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, equities research analysts predict 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. Shareholders of record on Monday, June 9th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.12%. Public Service Enterprise Group’s payout ratio is 68.85%.

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.