Net Worth Advisory Group Lowers Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Net Worth Advisory Group lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,661 shares of the utilities provider’s stock after selling 435 shares during the quarter. Net Worth Advisory Group’s holdings in Public Service Enterprise Group were worth $225,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PEG. Raymond James Financial Inc. purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth about $376,209,000. Jennison Associates LLC increased its holdings in shares of Public Service Enterprise Group by 125.3% in the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock worth $285,982,000 after purchasing an additional 1,882,667 shares in the last quarter. FMR LLC increased its holdings in Public Service Enterprise Group by 19.4% in the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock worth $481,825,000 after buying an additional 877,345 shares in the last quarter. National Bank of Canada FI raised its position in Public Service Enterprise Group by 376.3% in the 3rd quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider’s stock worth $72,321,000 after buying an additional 640,485 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Public Service Enterprise Group by 103.6% in the 4th quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider’s stock worth $80,313,000 after buying an additional 483,795 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Stock Down 0.0 %

NYSE PEG opened at $78.58 on Wednesday. The stock’s 50-day moving average price is $84.04 and its 200-day moving average price is $86.03. The company has a market capitalization of $39.17 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 52 week low of $63.31 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share 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 the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 earnings per share. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of research analyst reports. Guggenheim reiterated a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Bank of America cut their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company reduced their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $89.83.

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.