Public Service Enterprise Group Inc. (PEG) Shares Sold by Exxonmobil Investment Management Inc. TX

Exxonmobil Investment Management Inc. TX lowered its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 12.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,462 shares of the utilities provider’s stock after selling 11,919 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Public Service Enterprise Group were worth $4,144,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in PEG. Grove Bank & Trust raised its stake in Public Service Enterprise Group by 209.4% during the 3rd quarter. Grove Bank & Trust now owns 2,274 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 1,539 shares in the last quarter. IHT Wealth Management LLC raised its stake in Public Service Enterprise Group by 45.9% during the 2nd quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock valued at $131,000 after acquiring an additional 202 shares in the last quarter. YorkBridge Wealth Partners LLC raised its stake in Public Service Enterprise Group by 13.8% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 3,489 shares of the utilities provider’s stock valued at $149,000 after acquiring an additional 424 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in Public Service Enterprise Group during the 3rd quarter valued at $185,000. Finally, Evercore Wealth Management LLC raised its stake in shares of Public Service Enterprise Group by 5.0% in the 2nd quarter. Evercore Wealth Management LLC now owns 4,323 shares of the utilities provider’s stock worth $186,000 after buying an additional 205 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company’s stock.

Public Service Enterprise Group Inc. (PEG) opened at $49.74 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.80 and a quick ratio of 0.56. Public Service Enterprise Group Inc. has a 52 week low of $41.67 and a 52 week high of $53.28. The company has a market capitalization of $25,438.57, a PE ratio of 48.29, a price-to-earnings-growth ratio of 6.05 and a beta of 0.41.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, October 31st. The utilities provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter last year, the firm earned $0.88 EPS. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. equities research analysts forecast that Public Service Enterprise Group Inc. will post 2.93 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 8th were given a $0.43 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.46%. Public Service Enterprise Group’s dividend payout ratio is currently 166.99%.

A number of analysts have recently commented on the company. Guggenheim reissued a “buy” rating and issued a $58.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, January 3rd. Barclays raised Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $49.00 to $51.00 in a research note on Friday, September 22nd. Zacks Investment Research lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. Jefferies Group reaffirmed a “hold” rating and set a $46.50 target price on shares of Public Service Enterprise Group in a research report on Thursday, October 12th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $47.00 target price on shares of Public Service Enterprise Group in a research report on Tuesday, October 10th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $51.32.

In related news, Chairman Ralph Izzo sold 60,793 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $49.70, for a total transaction of $3,021,412.10. Following the completion of the transaction, the chairman now owns 748,778 shares of the company’s stock, valued at approximately $37,214,266.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Derek M. Dirisio sold 2,185 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $51.50, for a total value of $112,527.50. The disclosure for this sale can be found here. Insiders sold 144,071 shares of company stock valued at $7,275,472 in the last ninety days. Insiders own 0.61% of the company’s stock.

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About Public Service Enterprise Group

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.

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

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