Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC lowered its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,272 shares of the utilities provider’s stock after selling 237 shares during the quarter. Carret Asset Management LLC’s holdings in Public Service Enterprise Group were worth $276,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. LBP AM SA increased its stake in shares of Public Service Enterprise Group by 382.9% in the fourth quarter. LBP AM SA now owns 13,496 shares of the utilities provider’s stock worth $1,140,000 after acquiring an additional 10,701 shares during the period. JPL Wealth Management LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter worth $2,716,000. Commonwealth Equity Services LLC boosted its holdings in Public Service Enterprise Group by 5.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 271,322 shares of the utilities provider’s stock worth $22,924,000 after buying an additional 14,600 shares in the last quarter. PGGM Investments boosted its holdings in Public Service Enterprise Group by 433.3% during the fourth quarter. PGGM Investments now owns 32,699 shares of the utilities provider’s stock worth $2,763,000 after buying an additional 26,568 shares in the last quarter. Finally, HBK Sorce Advisory LLC boosted its holdings in Public Service Enterprise Group by 2.8% during the fourth quarter. HBK Sorce Advisory LLC now owns 9,729 shares of the utilities provider’s stock worth $822,000 after buying an additional 261 shares in the last quarter. Institutional investors and hedge funds 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 the firm’s stock in a transaction dated Monday, February 3rd. The shares were 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 directly 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

PEG has been the topic of a number of recent analyst reports. Bank of America lowered their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company lowered their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Scotiabank increased 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. StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday. Finally, BMO Capital Markets increased their price target on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.83.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $81.59 on Friday. The company’s 50-day moving average price is $83.74 and its 200-day moving average price is $85.95. 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 company has a market cap of $40.68 billion, a P/E ratio of 20.05, a P/E/G ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a twelve month low of $63.31 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. The firm 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 period last year, the firm posted $0.54 earnings per share. On average, sell-side analysts forecast 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 firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.63 dividend. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 71.19%.

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.