Public Service Enterprise Group Incorporated (NYSE:PEG) Position Trimmed by Wealthspire Advisors LLC

Wealthspire Advisors LLC lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 38.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,068 shares of the utilities provider’s stock after selling 1,905 shares during the quarter. Wealthspire Advisors LLC’s holdings in Public Service Enterprise Group were worth $259,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in Public Service Enterprise Group during the third quarter worth approximately $35,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $35,000. Stonebridge Financial Group LLC acquired a new position in Public Service Enterprise Group during the fourth quarter worth $54,000. Financial Life Planners acquired a new position in Public Service Enterprise Group during the fourth quarter worth $56,000. Finally, Legacy Investment Solutions LLC acquired a new position in Public Service Enterprise Group during the third quarter worth $59,000. Institutional investors own 73.34% of the company’s stock.

Insider Activity 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 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 completion of the sale, the chief executive officer now owns 144,212 shares in the company, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $80.76 on Friday. The stock’s 50 day simple moving average is $84.86 and its two-hundred day simple moving average is $85.99. 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 has a market cap of $40.24 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.78 and a beta of 0.64. Public Service Enterprise Group Incorporated has a fifty-two week low of $61.36 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.12%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 71.19%.

Analyst Ratings Changes

Several analysts have recently commented on PEG shares. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $88.00 to $84.00 in a report on Monday, January 27th. BMO Capital Markets increased their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday. Wells Fargo & Company cut their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday. Guggenheim reaffirmed a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday. Finally, Scotiabank raised their price target on 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. Five investment 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.50.

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.