LVW Advisors LLC Sells 635 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

LVW Advisors LLC lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,617 shares of the utilities provider’s stock after selling 635 shares during the quarter. LVW Advisors LLC’s holdings in Public Service Enterprise Group were worth $728,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Public Service Enterprise Group during the 3rd quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group during the 3rd quarter worth approximately $48,000. Legacy Investment Solutions LLC acquired a new stake in Public Service Enterprise Group during the 3rd quarter worth approximately $59,000. Kimelman & Baird LLC acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $66,000. Finally, Fortitude Family Office LLC lifted its holdings in Public Service Enterprise Group by 325.0% during the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 611 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now owns 70,011 shares in the company, valued at $6,307,290.99. The trade was a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the sale, the senior vice president now owns 25,829 shares in the company, valued at $2,271,660.55. This represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,234 shares of company stock worth $722,037 in the last 90 days. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PEG. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Evercore ISI lifted their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. UBS Group lifted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Scotiabank lifted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Finally, Barclays dropped their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.17.

Public Service Enterprise Group Trading Down 0.3 %

Shares of PEG opened at $88.20 on Monday. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $95.22. The business’s fifty day moving average is $87.70 and its 200-day moving average is $84.43. 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 firm has a market cap of $43.94 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 2.81 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the company posted $0.85 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a dividend of $0.60 per share. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.72%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

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.