Yaupon Capital Management LP Reduces Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Yaupon Capital Management LP lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 27.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 134,752 shares of the utilities provider’s stock after selling 51,323 shares during the period. Yaupon Capital Management LP’s holdings in Public Service Enterprise Group were worth $12,021,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. CWM LLC raised its stake in Public Service Enterprise Group by 72.3% in the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock valued at $1,532,000 after acquiring an additional 8,723 shares during the period. CX Institutional bought a new position in shares of Public Service Enterprise Group in the second quarter valued at approximately $204,000. QRG Capital Management Inc. grew its stake in Public Service Enterprise Group by 28.0% during 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. SG Americas Securities LLC grew its position in shares of Public Service Enterprise Group by 133.4% during the 2nd quarter. SG Americas Securities LLC now owns 150,370 shares of the utilities provider’s stock valued at $11,082,000 after purchasing an additional 85,933 shares in the last quarter. Finally, Country Trust Bank purchased a new stake in shares of Public Service Enterprise Group in the second quarter worth $52,000. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the sale, the senior vice president now owns 25,829 shares in the company, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the transaction, the executive vice president now directly owns 57,961 shares in the company, valued at $4,610,217.94. This trade represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,361 shares of company stock worth $2,356,562. 0.57% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PEG has been the subject of several recent analyst reports. UBS Group upped their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Morgan Stanley raised their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Barclays cut their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Scotiabank raised their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $88.08.

Public Service Enterprise Group Stock Down 1.6 %

PEG opened at $90.01 on Friday. The company has a market cap of $44.85 billion, a P/E ratio of 22.12, a P/E/G ratio of 3.37 and a beta of 0.62. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $95.22. The business’s 50-day moving average price is $89.62 and its 200-day moving average price is $81.82. 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 announced 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. 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 during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. On average, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

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.