Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 78.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,498 shares of the utilities provider’s stock after selling 121,466 shares during the quarter. Hancock Whitney Corp’s holdings in Public Service Enterprise Group were worth $2,899,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Heritage Wealth Management Inc. purchased a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $422,000. QRG Capital Management Inc. raised its stake in shares of Public Service Enterprise Group by 28.0% in the second quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock valued at $5,227,000 after acquiring an additional 15,505 shares in the last quarter. CWM LLC boosted its holdings in Public Service Enterprise Group by 72.3% in the second quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock valued at $1,532,000 after purchasing an additional 8,723 shares during the period. Czech National Bank grew its stake in Public Service Enterprise Group by 8.3% during the 2nd quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock worth $6,995,000 after purchasing an additional 7,235 shares in the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in Public Service Enterprise Group during the 3rd quarter worth about $2,965,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PEG shares. UBS Group lifted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Bank of America increased their price objective on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Finally, Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 target price for the company. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.69.

Public Service Enterprise Group Stock Up 0.7 %

Public Service Enterprise Group stock opened at $93.01 on Tuesday. The stock has a 50-day simple moving average of $88.54 and a 200-day simple moving average of $80.86. The company has a market capitalization of $46.34 billion, a P/E ratio of 22.85, a PEG ratio of 3.39 and a beta of 0.61. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $93.11.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 earnings per share. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.58%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the sale, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at $4,385,252.17. This trade represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the transaction, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,739 shares of company stock worth $2,467,753. 0.57% of the stock is owned by company insiders.

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.