HighTower Advisors LLC trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,735 shares of the utilities provider’s stock after selling 12,200 shares during the period. HighTower Advisors LLC’s holdings in Public Service Enterprise Group were worth $3,093,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. YorkBridge Wealth Partners LLC grew its position 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 worth $149,000 after purchasing an additional 424 shares in the last quarter. People s United Financial Inc. grew its position in Public Service Enterprise Group by 174.1% during the 2nd quarter. People s United Financial Inc. now owns 8,059 shares of the utilities provider’s stock worth $347,000 after purchasing an additional 5,119 shares in the last quarter. First Allied Advisory Services Inc. grew its position in Public Service Enterprise Group by 23.7% during the 2nd quarter. First Allied Advisory Services Inc. now owns 14,628 shares of the utilities provider’s stock worth $627,000 after purchasing an additional 2,806 shares in the last quarter. Balyasny Asset Management LLC grew its position in Public Service Enterprise Group by 413.1% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,986,751 shares of the utilities provider’s stock worth $85,450,000 after purchasing an additional 1,599,583 shares in the last quarter. Finally, QS Investors LLC grew its position in Public Service Enterprise Group by 9.0% during the 2nd quarter. QS Investors LLC now owns 111,711 shares of the utilities provider’s stock worth $4,805,000 after purchasing an additional 9,193 shares in the last quarter. Hedge funds and other institutional investors own 65.88% of the company’s stock.

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) opened at 47.45 on Friday. The firm has a market cap of $24.00 billion, a price-to-earnings ratio of 53.31 and a beta of 0.38. Public Service Enterprise Group Incorporated has a 52 week low of $39.28 and a 52 week high of $47.47. The firm’s 50 day moving average is $46.44 and its 200-day moving average is $44.79.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.05. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the prior year, the firm earned $0.57 earnings per share. Equities research analysts predict that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 8th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio is 193.26%.

In other news, insider Derek M. Dirisio sold 1,500 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $47.11, for a total transaction of $70,665.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Ralph Izzo sold 20,833 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $46.50, for a total transaction of $968,734.50. The disclosure for this sale can be found here. Insiders have sold 45,733 shares of company stock valued at $2,097,782 in the last three months. 0.61% of the stock is owned by insiders.

Several equities analysts have weighed in on PEG shares. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Public Service Enterprise Group in a research report on Tuesday, June 27th. Morgan Stanley lifted their price objective on shares of Public Service Enterprise Group from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Tuesday, July 4th. BidaskClub cut shares of Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Finally, Wolfe Research upgraded shares of Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a research report on Monday, July 17th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Public Service Enterprise Group presently has an average rating of “Buy” and a consensus target price of $49.13.

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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.

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

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