Public Service Enterprise Group Incorporated (NYSE:PEG) Holdings Cut by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC lowered its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 46.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,296 shares of the utilities provider’s stock after selling 4,598 shares during the period. Ironwood Investment Counsel LLC’s holdings in Public Service Enterprise Group were worth $447,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Foundations Investment Advisors LLC lifted its holdings in Public Service Enterprise Group by 27.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock worth $7,403,000 after acquiring an additional 18,627 shares during the last quarter. DRW Securities LLC bought a new position in Public Service Enterprise Group in the third quarter worth about $8,244,000. Cullen Investment Group LTD. lifted its holdings in Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after acquiring an additional 10,610 shares during the last quarter. Arvest Bank Trust Division bought a new position in Public Service Enterprise Group in the third quarter worth about $2,860,000. Finally, Parsons Capital Management Inc. RI bought a new position in Public Service Enterprise Group in the fourth quarter worth about $2,565,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $81.59 on Friday. Public Service Enterprise Group Incorporated has a 12 month low of $63.31 and a 12 month high of $95.22. The stock has a market cap of $40.68 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.78 and a beta of 0.60. The stock’s 50 day moving average price is $83.74 and its 200 day moving average price is $85.95. 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 (NYSE:PEG) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) 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 analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 earnings per share. Equities research analysts anticipate 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. Shareholders of record on Monday, March 10th will be given a $0.63 dividend. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 3.09%. Public Service Enterprise Group’s payout ratio is 71.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PEG shares. Guggenheim reaffirmed a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. Wells Fargo & Company cut their price target on 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. Finally, BMO Capital Markets lifted their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.83.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by company insiders.

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.