Magnolia Capital Advisors LLC Has $1.26 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Magnolia Capital Advisors LLC trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,878 shares of the utilities provider’s stock after selling 1,159 shares during the quarter. Magnolia Capital Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,257,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PEG. Ashton Thomas Securities LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at $35,000. Northwest Investment Counselors LLC bought a new position in shares of Public Service Enterprise Group in the third quarter valued at about $48,000. Legacy Investment Solutions LLC bought a new position in shares of Public Service Enterprise Group in the third quarter valued at about $59,000. Fortitude Family Office LLC raised its position in shares of Public Service Enterprise Group by 325.0% in the third quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 611 shares during the period. Finally, Salem Investment Counselors Inc. raised its position in shares of Public Service Enterprise Group by 67.5% in the fourth quarter. Salem Investment Counselors Inc. now owns 1,119 shares of the utilities provider’s stock valued at $95,000 after purchasing an additional 451 shares during the period. Institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In related news, 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 approximately $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the firm’s 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 completion of the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,234 shares of company stock worth $722,037 over the last three months. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on PEG shares. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Wells Fargo & Company lifted their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. 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 report on Monday, October 21st. 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 report on Wednesday, October 30th. Finally, Scotiabank raised their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $88.83.

Public Service Enterprise Group Stock Performance

PEG stock opened at $83.57 on Monday. Public Service Enterprise Group Incorporated has a twelve month low of $57.24 and a twelve month high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The business’s fifty day simple moving average is $86.97 and its two-hundred day simple moving average is $85.17. The firm has a market cap of $41.64 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 2.67 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the company earned $0.85 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Tuesday, December 10th. 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.