Laird Norton Wetherby Wealth Management LLC Has $1.02 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Laird Norton Wetherby Wealth Management LLC lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,011 shares of the utilities provider’s stock after selling 845 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $1,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Center for Financial Planning Inc. boosted its stake in Public Service Enterprise Group by 3.0% during the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock worth $349,000 after buying an additional 120 shares in the last quarter. Spire Wealth Management boosted its stake in Public Service Enterprise Group by 2.4% during the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock worth $440,000 after buying an additional 121 shares in the last quarter. United Asset Strategies Inc. boosted its stake in Public Service Enterprise Group by 2.6% during the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock worth $416,000 after buying an additional 127 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Public Service Enterprise Group by 0.4% during the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock valued at $2,990,000 after acquiring an additional 139 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of Public Service Enterprise Group by 10.1% during the fourth quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider’s stock valued at $128,000 after acquiring an additional 139 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PEG. BMO Capital Markets cut their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a report on Thursday, April 10th. Evercore ISI cut their price objective on Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. StockNews.com cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Thursday, May 1st. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a report on Wednesday, March 19th. Finally, Barclays cut their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Hold” and an average price target of $88.81.

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

Shares of NYSE:PEG opened at $77.54 on Wednesday. The stock has a market capitalization of $38.69 billion, a P/E ratio of 19.05, a P/E/G ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 1-year low of $71.89 and a 1-year high of $95.22. 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 business has a 50-day moving average price of $80.90 and a two-hundred day moving average price of $84.34.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting the consensus estimate of $1.43. The firm 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 company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.31 EPS. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

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 is Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.25%. 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.