Legacy Private Trust Co. Has $2.36 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Legacy Private Trust Co. lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 15.7% during the first quarter, Holdings Channel reports. The institutional investor owned 28,727 shares of the utilities provider’s stock after selling 5,360 shares during the quarter. Legacy Private Trust Co.’s holdings in Public Service Enterprise Group were worth $2,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. abrdn plc boosted its stake in Public Service Enterprise Group by 0.6% during the fourth quarter. abrdn plc now owns 1,803,046 shares of the utilities provider’s stock worth $151,546,000 after buying an additional 10,860 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at $421,000. Janney Montgomery Scott LLC boosted its stake in shares of Public Service Enterprise Group by 10.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 66,610 shares of the utilities provider’s stock valued at $5,628,000 after purchasing an additional 6,532 shares in the last quarter. Swedbank AB boosted its stake in shares of Public Service Enterprise Group by 6.2% in the 4th quarter. Swedbank AB now owns 451,264 shares of the utilities provider’s stock valued at $38,127,000 after purchasing an additional 26,259 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at $2,010,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the topic of several recent analyst reports. Morgan Stanley reduced their target price on shares of Public Service Enterprise Group from $102.00 to $101.00 and set an “overweight” rating on the stock in a research note on Thursday, May 22nd. Wells Fargo & Company reduced their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price on the stock. in a research note on Wednesday, March 19th. Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Thursday, May 1st. Finally, Barclays reduced their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Hold” and a consensus price target of $89.63.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $79.26, for a total transaction of $109,220.28. Following the completion of the sale, the chief executive officer now directly owns 221,093 shares of the company’s stock, valued at approximately $17,523,831.18. The trade was a 0.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $79.53 on Friday. The stock has a 50-day simple moving average of $80.31 and a 200 day simple moving average of $83.71. 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 $71.89 and a 12-month high of $95.22. The stock has a market capitalization of $39.68 billion, a price-to-earnings ratio of 19.54, a P/E/G ratio of 2.78 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.43. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.15 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 up 16.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.31 earnings per share. On average, 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.17%. Public Service Enterprise Group’s dividend payout ratio is currently 68.85%.

Public Service Enterprise Group Company 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.