Barclays PLC Decreases Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Barclays PLC decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 11.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 975,784 shares of the utilities provider's stock after selling 121,362 shares during the period. Barclays PLC owned about 0.20% of Public Service Enterprise Group worth $87,050,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PEG. Dynamic Advisor Solutions LLC increased its holdings in shares of Public Service Enterprise Group by 18.7% in the second quarter. Dynamic Advisor Solutions LLC now owns 5,149 shares of the utilities provider's stock worth $380,000 after buying an additional 812 shares during the period. Diversified Trust Co purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter worth about $585,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Public Service Enterprise Group by 3.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 76,507 shares of the utilities provider's stock worth $5,639,000 after buying an additional 2,674 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Public Service Enterprise Group by 3.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 28,118 shares of the utilities provider's stock valued at $2,072,000 after acquiring an additional 997 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Public Service Enterprise Group during the second quarter valued at $219,000. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Trading Up 0.5 %

Public Service Enterprise Group stock traded up $0.39 during mid-day trading on Thursday, hitting $85.95. The company's stock had a trading volume of 2,086,700 shares, compared to its average volume of 2,752,364. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $95.22. The stock has a market cap of $42.82 billion, a PE ratio of 21.29, a P/E/G ratio of 3.30 and a beta of 0.62. The company has a 50 day moving average of $89.43 and a 200-day moving average of $82.23. 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 (NYSE:PEG - Get Free Report) last posted its quarterly earnings results 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. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The company's revenue was up 7.6% on a year-over-year basis. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is 58.97%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PEG. Bank of America raised their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Evercore ISI increased their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 8th. Barclays reduced their price objective on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a "market perform" rating in a report on Monday, October 21st. Finally, Wells Fargo & Company boosted 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 report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of "Moderate Buy" and a consensus target price of $89.17.

Insider Activity

In other news, EVP Tamara Louise Linde sold 9,564 shares of the business's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the transaction, the executive vice president now directly owns 48,397 shares of the company's stock, valued at approximately $4,385,252.17. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the sale, the chief executive officer now directly owns 147,514 shares in the company, valued at approximately $13,305,762.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,798 shares of company stock worth $1,595,921. 0.18% of the stock is currently owned by corporate 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.