Captrust Financial Advisors Reduces Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Captrust Financial Advisors lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.6% in the 3rd quarter, Holdings Channel reports. The firm owned 109,505 shares of the utilities provider’s stock after selling 5,293 shares during the quarter. Captrust Financial Advisors’ holdings in Public Service Enterprise Group were worth $9,769,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Tidal Investments LLC grew its stake in Public Service Enterprise Group by 14.5% during the first quarter. Tidal Investments LLC now owns 22,598 shares of the utilities provider’s stock valued at $1,509,000 after acquiring an additional 2,866 shares in the last quarter. Atria Investments Inc grew its position in shares of Public Service Enterprise Group by 0.7% during the 1st quarter. Atria Investments Inc now owns 38,320 shares of the utilities provider’s stock valued at $2,559,000 after purchasing an additional 253 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Public Service Enterprise Group by 155.6% in the first quarter. Cetera Investment Advisers now owns 120,880 shares of the utilities provider’s stock worth $8,072,000 after purchasing an additional 73,585 shares during the period. Cetera Advisors LLC raised its position in shares of Public Service Enterprise Group by 66.0% in the first quarter. Cetera Advisors LLC now owns 23,614 shares of the utilities provider’s stock worth $1,577,000 after buying an additional 9,388 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Public Service Enterprise Group by 4.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 114,989 shares of the utilities provider’s stock valued at $7,639,000 after buying an additional 4,505 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $94.30 on Monday. The firm has a market cap of $46.98 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 3.46 and a beta of 0.61. The company has a 50-day simple moving average of $89.31 and a two-hundred day simple moving average of $81.44. 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 12-month low of $56.85 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the company earned $0.85 EPS. Public Service Enterprise Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.55%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. The trade was a 0.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Kim C. Hanemann sold 956 shares of the company’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 transaction, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,739 shares of company stock valued at $2,467,753 in the last quarter. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PEG shares. Wells Fargo & Company upped their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Bank of America raised their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 price target for the company. Evercore ISI raised their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley upped their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average target price of $88.08.

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.