Little House Capital LLC Cuts Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Little House Capital LLC reduced its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,660 shares of the utilities provider’s stock after selling 1,866 shares during the period. Little House Capital LLC’s holdings in Public Service Enterprise Group were worth $712,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Public Service Enterprise Group by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock worth $3,509,864,000 after buying an additional 7,103,657 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Public Service Enterprise Group by 2.2% during the third quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after acquiring an additional 726,613 shares during the last quarter. Legal & General Group Plc boosted its position in Public Service Enterprise Group by 1.3% during the third quarter. Legal & General Group Plc now owns 7,049,245 shares of the utilities provider’s stock worth $401,173,000 after acquiring an additional 87,974 shares during the last quarter. Morgan Stanley grew its stake in Public Service Enterprise Group by 4.1% during the 3rd quarter. Morgan Stanley now owns 5,612,490 shares of the utilities provider’s stock valued at $319,407,000 after acquiring an additional 221,071 shares in the last quarter. Finally, Norges Bank acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at about $215,074,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total value of $95,561.70. Following the sale, the chief executive officer now owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PEG shares. Evercore ISI upped their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. Scotiabank dropped their price objective on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Morgan Stanley cut their price objective on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Finally, Mizuho boosted their target price on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $71.50.

Public Service Enterprise Group Trading Down 0.1 %

Shares of PEG stock traded down $0.04 on Monday, hitting $73.66. The stock had a trading volume of 2,678,437 shares, compared to its average volume of 2,860,191. The company’s 50 day moving average price is $72.69 and its 200-day moving average price is $65.80. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $75.82. The firm has a market capitalization of $36.69 billion, a P/E ratio of 20.48, a P/E/G ratio of 3.06 and a beta of 0.59. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the company earned $1.39 earnings per share. Public Service Enterprise Group’s quarterly revenue was down 26.5% on a year-over-year basis. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a $0.60 dividend. The ex-dividend date was Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.26%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Public Service Enterprise Group Profile

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.