Traders Sell Public Service Enterprise Group Incorporated (PEG) on Strength (PEG)

Investors sold shares of Public Service Enterprise Group Incorporated (NYSE:PEG) on strength during trading hours on Thursday. $12.96 million flowed into the stock on the tick-up and $50.74 million flowed out of the stock on the tick-down, for a money net flow of $37.78 million out of the stock. Of all companies tracked, Public Service Enterprise Group had the 0th highest net out-flow for the day. Public Service Enterprise Group traded up $0.05 for the day and closed at $44.34

PEG has been the subject of several research reports. BidaskClub raised shares of Public Service Enterprise Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. Barclays PLC decreased their price target on shares of Public Service Enterprise Group from $49.00 to $47.00 and set an “equal weight” rating for the company in a report on Tuesday, April 4th. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Tuesday, July 4th. Deutsche Bank AG decreased their price target on shares of Public Service Enterprise Group from $49.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, April 11th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $47.10.

The firm’s 50 day moving average is $43.54 and its 200 day moving average is $44.06. The stock has a market cap of $22.74 billion, a PE ratio of 43.23 and a beta of 0.38.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.05. Public Service Enterprise Group had a net margin of 5.86% and a return on equity of 11.17%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the firm earned $0.57 EPS. Analysts predict that Public Service Enterprise Group Incorporated will post $2.90 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend is Thursday, September 7th. Public Service Enterprise Group’s payout ratio is 165.39%.

In other news, insider Derek M. Dirisio sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $43.86, for a total value of $87,720.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Ralph Izzo sold 30,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $42.83, for a total transaction of $1,284,900.00. Following the completion of the sale, the chairman now directly owns 748,121 shares in the company, valued at approximately $32,042,022.43. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,021 shares of company stock worth $3,733,335. 0.61% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. raised its stake in Public Service Enterprise Group by 19.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,314 shares of the utilities provider’s stock valued at $103,000 after buying an additional 381 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Public Service Enterprise Group by 0.8% in the first quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock worth $114,000 after buying an additional 20 shares in the last quarter. Kistler Tiffany Companies LLC raised its stake in shares of Public Service Enterprise Group by 3.8% in the first quarter. Kistler Tiffany Companies LLC now owns 2,684 shares of the utilities provider’s stock worth $119,000 after buying an additional 99 shares in the last quarter. YorkBridge Wealth Partners LLC raised its stake in shares of Public Service Enterprise Group by 21.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,065 shares of the utilities provider’s stock worth $134,000 after buying an additional 543 shares in the last quarter. Finally, Gradient Investments LLC raised its stake in shares of Public Service Enterprise Group by 331.2% in the second quarter. Gradient Investments LLC now owns 3,234 shares of the utilities provider’s stock worth $139,000 after buying an additional 2,484 shares in the last quarter. 66.17% of the stock is currently owned by institutional investors and hedge funds.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.