SageView Advisory Group LLC Sells 326 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

SageView Advisory Group LLC lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,109 shares of the utilities provider’s stock after selling 326 shares during the quarter. SageView Advisory Group LLC’s holdings in Public Service Enterprise Group were worth $516,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. bought a new position in Public Service Enterprise Group in the 4th quarter worth approximately $35,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at about $39,000. Nemes Rush Group LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter worth about $53,000. Stonebridge Financial Group LLC purchased a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $54,000. Finally, Financial Life Planners purchased a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $56,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

PEG stock opened at $83.69 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 1 year low of $64.03 and a 1 year high of $95.22. The firm has a 50-day moving average of $81.93 and a 200 day moving average of $85.67. The company has a market cap of $41.72 billion, a P/E ratio of 20.56, a PEG ratio of 2.78 and a beta of 0.52.

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, topping the consensus estimate of $0.83 by $0.01. The company 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 revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 earnings per share. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.01%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 71.19%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the transaction, the chief executive officer now directly owns 221,670 shares of the company’s stock, valued at approximately $18,372,009.60. The trade was a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PEG. Barclays lowered their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Guggenheim reissued a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Morgan Stanley lifted their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. StockNews.com cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Tuesday, April 8th. Finally, LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price for the company. in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $89.35.

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.