Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by YorkBridge Wealth Partners LLC

YorkBridge Wealth Partners LLC lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) by 5.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 17,653 shares of the utilities provider’s stock after selling 1,084 shares during the period. YorkBridge Wealth Partners LLC’s holdings in Public Service Enterprise Group were worth $1,117,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PEG. Bromfield Sneider Wealth Advisors acquired a new stake in Public Service Enterprise Group during the 1st quarter valued at $27,000. Tcwp LLC acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth $28,000. Capital Analysts LLC acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth $35,000. ACG Wealth acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth $40,000. Finally, MCF Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth $42,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Buying and Selling

In related news, COO Ralph A. Larossa sold 1,054 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $65.75, for a total transaction of $69,300.50. Following the sale, the chief operating officer now directly owns 62,313 shares in the company, valued at $4,097,079.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Ralph Izzo sold 9,883 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $65.58, for a total value of $648,127.14. Following the completion of the transaction, the chief executive officer now owns 441,613 shares of the company’s stock, valued at $28,960,980.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Ralph A. Larossa sold 1,054 shares of Public Service Enterprise Group stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $65.75, for a total transaction of $69,300.50. Following the completion of the transaction, the chief operating officer now directly owns 62,313 shares of the company’s stock, valued at approximately $4,097,079.75. The disclosure for this sale can be found here. Insiders have sold a total of 22,274 shares of company stock worth $1,446,725 over the last ninety days. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on PEG shares. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company decreased their price target on Public Service Enterprise Group from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, August 3rd. Morgan Stanley lifted their price target on Public Service Enterprise Group from $75.00 to $81.00 and gave the stock an “overweight” rating in a research note on Thursday, August 18th. Barclays decreased their price target on Public Service Enterprise Group from $75.00 to $66.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Finally, TheStreet downgraded Public Service Enterprise Group from a “b” rating to a “c” rating in a research note on Monday, June 13th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

Public Service Enterprise Group Stock Down 0.8 %

Shares of Public Service Enterprise Group stock opened at $63.97 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 1.23. Public Service Enterprise Group Incorporated has a 1-year low of $58.19 and a 1-year high of $75.61. The firm’s 50-day moving average price is $65.36 and its two-hundred day moving average price is $66.60.

Public Service Enterprise Group (NYSE:PEGGet Rating) last posted its earnings results on Tuesday, August 2nd. The utilities provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). Public Service Enterprise Group had a positive return on equity of 13.25% and a negative net margin of 10.59%. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.48 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.38%. Public Service Enterprise Group’s payout ratio is -110.20%.

About Public Service Enterprise Group

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Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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

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