BNP Paribas Financial Markets Sells 202,558 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

BNP Paribas Financial Markets cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 20.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 769,012 shares of the utilities provider’s stock after selling 202,558 shares during the period. BNP Paribas Financial Markets’ holdings in Public Service Enterprise Group were worth $68,604,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Family Firm Inc. acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at $33,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at $35,000. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group in the 3rd quarter valued at $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter worth $48,000. Finally, Country Trust Bank acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter worth $52,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Public Service Enterprise Group

In related news, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now owns 70,011 shares in the company, valued at $6,307,290.99. This represents a 1.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the sale, the executive vice president now owns 57,961 shares in the company, valued at approximately $4,610,217.94. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,739 shares of company stock worth $2,467,753. Insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Trading Down 0.3 %

NYSE PEG opened at $94.20 on Thursday. The business’s 50-day moving average price is $88.94 and its two-hundred day moving average price is $81.10. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $95.22. The firm has a market capitalization of $46.93 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of 3.41 and a beta of 0.61. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The business’s revenue was up 7.6% on a year-over-year basis. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.55%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PEG shares. Scotiabank boosted their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Jefferies Financial Group started coverage on Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 price target for the company. UBS Group boosted their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

Public Service Enterprise Group Company 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.