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

Princeton Global Asset Management LLC lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 21.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,717 shares of the utilities provider’s stock after selling 2,993 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Public Service Enterprise Group were worth $905,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of PEG. Ashton Thomas Securities LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group during the 3rd quarter valued at $48,000. Legacy Investment Solutions LLC purchased a new stake in Public Service Enterprise Group during the 3rd quarter worth $59,000. Fortitude Family Office LLC lifted its holdings in Public Service Enterprise Group by 325.0% in the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock worth $71,000 after buying an additional 611 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in Public Service Enterprise Group by 30.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 1,107 shares of the utilities provider’s stock valued at $99,000 after buying an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 0.3 %

NYSE:PEG opened at $83.57 on Monday. 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 stock has a 50 day moving average of $86.97 and a 200-day moving average of $85.17. The firm has a market capitalization of $41.64 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. Public Service Enterprise Group Incorporated has a 52 week low of $57.24 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 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 up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 EPS. Analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a $0.60 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.87%. Public Service Enterprise Group’s payout ratio is 58.97%.

Analysts Set New Price Targets

PEG has been the topic of a number of analyst reports. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Wells Fargo & Company upped their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $88.00 to $84.00 in a research note on Monday, January 27th. UBS Group upped their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Scotiabank increased their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $88.83.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the sale, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, 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. Over the last ninety days, insiders have sold 8,234 shares of company stock valued at $722,037. Company insiders own 0.18% of the company’s stock.

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.