Public Service Enterprise Group Incorporated (NYSE:PEG) Position Reduced by PFG Investments LLC

PFG Investments LLC trimmed its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,356 shares of the utilities provider’s stock after selling 879 shares during the quarter. PFG Investments LLC’s holdings in Public Service Enterprise Group were worth $2,480,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PEG. Ashton Thomas Securities LLC bought a new position in Public Service Enterprise Group during the 3rd quarter valued at $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group during the 3rd quarter valued at $48,000. Legacy Investment Solutions LLC bought a new position in Public Service Enterprise Group during the 3rd quarter valued at $59,000. Kimelman & Baird LLC bought a new position in Public Service Enterprise Group during the 2nd quarter valued at $66,000. Finally, Fortitude Family Office LLC lifted its position in shares of Public Service Enterprise Group by 325.0% in the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock worth $71,000 after buying an additional 611 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the transaction, the chief executive officer now directly owns 144,212 shares in the company, valued at $12,245,040.92. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,234 shares of company stock valued at $722,037. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of recent research reports. BMO Capital Markets raised their price target 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. Evercore ISI raised their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. UBS Group raised their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Finally, Barclays reduced their price target 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. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.17.

Public Service Enterprise Group Stock Down 0.1 %

Public Service Enterprise Group stock opened at $88.04 on Monday. The stock has a market cap of $43.86 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 2.82 and a beta of 0.65. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The company’s 50-day moving average price is $87.80 and its two-hundred day moving average price is $84.93. Public Service Enterprise Group Incorporated has a 52 week low of $56.91 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.73%. Public Service Enterprise Group’s payout ratio is 58.97%.

About Public Service Enterprise Group

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.