Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,676 shares of the utilities provider’s stock after selling 166 shares during the period. Foster & Motley Inc.’s holdings in Public Service Enterprise Group were worth $311,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC increased its position in shares of Public Service Enterprise Group by 27.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock worth $7,403,000 after acquiring an additional 18,627 shares during the last quarter. DRW Securities LLC acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at approximately $8,244,000. Cullen Investment Group LTD. boosted its stake in shares of Public Service Enterprise Group by 65.3% during the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after buying an additional 10,610 shares during the last quarter. Arvest Bank Trust Division acquired a new stake in shares of Public Service Enterprise Group during the third quarter worth approximately $2,860,000. Finally, Cerity Partners LLC increased its stake in shares of Public Service Enterprise Group by 36.1% in the third quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock worth $8,575,000 after buying an additional 25,503 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG stock opened at $83.57 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $57.24 and a 1 year high of $95.22. The stock has a market capitalization of $41.64 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 2.61 and a beta of 0.65. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock’s fifty day moving average is $87.14 and its two-hundred day moving average is $85.03.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.44 billion. During the same period in the previous year, the business posted $0.85 EPS. Public Service Enterprise Group’s revenue was up 7.6% on a year-over-year basis. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm 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. This represents a $2.40 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PEG shares. Evercore ISI raised their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. UBS Group upped their price objective on 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 target price on 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. Finally, Wells Fargo & Company upped their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.83.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,234 shares of company stock worth $722,037. 0.57% of the stock is owned by company 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.