Woodward Diversified Capital LLC Sells 2,413 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Woodward Diversified Capital LLC reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 45.2% during the fourth quarter, Holdings Channel reports. The firm owned 2,925 shares of the utilities provider’s stock after selling 2,413 shares during the period. Woodward Diversified Capital LLC’s holdings in Public Service Enterprise Group were worth $247,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brookstone Capital Management grew its holdings in shares of Public Service Enterprise Group by 2.5% in the third quarter. Brookstone Capital Management now owns 7,658 shares of the utilities provider’s stock valued at $683,000 after acquiring an additional 190 shares in the last quarter. CWM LLC grew its stake in Public Service Enterprise Group by 4.2% in the 3rd quarter. CWM LLC now owns 21,653 shares of the utilities provider’s stock valued at $1,932,000 after purchasing an additional 867 shares during the period. Wedmont Private Capital increased its position in shares of Public Service Enterprise Group by 3.9% during the 3rd quarter. Wedmont Private Capital now owns 5,463 shares of the utilities provider’s stock valued at $492,000 after purchasing an additional 207 shares during the last quarter. Cypress Wealth Services LLC bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth $228,000. Finally, Merrion Investment Management Co LLC boosted its holdings in shares of Public Service Enterprise Group by 4.6% in the 3rd quarter. Merrion Investment Management Co LLC now owns 11,300 shares of the utilities provider’s stock worth $1,008,000 after buying an additional 500 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PEG. Scotiabank lifted their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. BMO Capital Markets increased their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Wells Fargo & Company boosted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $88.00 to $84.00 in a report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.83.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $83.61 on Friday. Public Service Enterprise Group Incorporated has a 1-year low of $57.40 and a 1-year high of $95.22. 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 firm has a market capitalization of $41.66 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The firm’s 50 day simple moving average is $86.15 and its 200 day simple moving average is $85.35.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a $0.60 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.87%. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Insider Buying and Selling

In related news, 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 sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group 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 sale, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,612 shares of company stock worth $836,549. Corporate insiders own 0.57% of the company’s stock.

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.