Miles Capital Inc. reduced its position in Public Service Enterprise Group Inc. (NYSE:PEG) by 4.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 15,669 shares of the utilities provider’s stock after selling 673 shares during the quarter. Miles Capital Inc.’s holdings in Public Service Enterprise Group were worth $925,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Stonebridge Capital Advisors LLC bought a new position in Public Service Enterprise Group during the second quarter valued at approximately $29,000. Capital Investment Advisory Services LLC raised its stake in shares of Public Service Enterprise Group by 123.0% during the third quarter. Capital Investment Advisory Services LLC now owns 475 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 262 shares in the last quarter. Resources Management Corp CT ADV purchased a new position in shares of Public Service Enterprise Group during the third quarter worth approximately $31,000. Bridger Capital Management LLC bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $50,000. Finally, Corbenic Partners LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $63,000. Hedge funds and other institutional investors own 69.36% of the company’s stock.
In other news, CFO Daniel J. Cregg sold 625 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $58.59, for a total transaction of $36,618.75. Following the completion of the transaction, the chief financial officer now directly owns 54,648 shares of the company’s stock, valued at $3,201,826.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Ralph A. Larossa sold 1,650 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $58.73, for a total transaction of $96,904.50. Following the sale, the chief operating officer now owns 74,419 shares of the company’s stock, valued at $4,370,627.87. The disclosure for this sale can be found here. In the last three months, insiders sold 5,975 shares of company stock worth $358,011. Insiders own 0.51% of the company’s stock.
Shares of NYSE:PEG traded down $0.09 during trading on Tuesday, reaching $59.07. 38,651 shares of the company traded hands, compared to its average volume of 2,208,350. The company has a current ratio of 0.75, a quick ratio of 0.52 and a debt-to-equity ratio of 0.99. Public Service Enterprise Group Inc. has a 52-week low of $51.68 and a 52-week high of $63.88. The firm has a market capitalization of $29.92 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 4.26 and a beta of 0.24. The business’s fifty day moving average is $58.63 and its 200-day moving average is $60.01.
Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Thursday, October 31st. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.95 by $0.03. Public Service Enterprise Group had a net margin of 14.45% and a return on equity of 11.01%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the firm earned $0.95 earnings per share. On average, sell-side analysts predict that Public Service Enterprise Group Inc. will post 3.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Monday, December 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 60.26%.
About Public Service Enterprise Group
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.
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