Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Mizuho Securities USA LLC

Mizuho Securities USA LLC lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 15.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,303 shares of the utilities provider's stock after selling 6,096 shares during the period. Mizuho Securities USA LLC's holdings in Public Service Enterprise Group were worth $2,882,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in Public Service Enterprise Group in the 3rd quarter worth approximately $35,000. Family Firm Inc. acquired a new stake in Public Service Enterprise Group in the 2nd quarter worth approximately $33,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group in the 2nd quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group in the 3rd quarter worth approximately $48,000. Finally, Country Trust Bank acquired a new stake in Public Service Enterprise Group in the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Price Performance

NYSE PEG traded up $0.05 on Friday, hitting $92.40. The company had a trading volume of 1,784,914 shares, compared to its average volume of 2,528,838. The company has a market capitalization of $46.04 billion, a PE ratio of 22.70, a PEG ratio of 3.39 and a beta of 0.61. The company's fifty day moving average price is $88.38 and its 200-day moving average price is $80.61. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $93.00.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 EPS. As a group, analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.60%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group's payout ratio is presently 58.97%.

Wall Street Analyst Weigh In

Several brokerages have commented on PEG. UBS Group lifted their price objective on shares of 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. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a research note on Monday, October 21st. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 5th. Bank of America lifted 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 note on Thursday, August 29th. 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 price objective for the company. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $86.69.

Insider Buying and Selling

In other news, COO Kim C. Hanemann sold 956 shares of the company's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the sale, the chief operating officer now owns 70,011 shares of the company's stock, valued at $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tamara Louise Linde sold 9,563 shares of the company's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the sale, the executive vice president now directly owns 57,961 shares of the company's stock, valued at $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 sold 28,739 shares of company stock valued at $2,467,753. 0.57% of the stock is owned by corporate insiders.

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.