Massachusetts Wealth Management Sells 150 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Massachusetts Wealth Management lowered its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,100 shares of the utilities provider’s stock after selling 150 shares during the period. Massachusetts Wealth Management’s holdings in Public Service Enterprise Group were worth $431,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at about $35,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group during the third quarter valued at approximately $48,000. Financial Life Planners acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $56,000. Brown Lisle Cummings Inc. acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $57,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $59,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,612 shares of company stock valued at $836,549 over the last quarter. 0.18% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $83.43 on Wednesday. The firm has a 50-day moving average price of $86.56 and a two-hundred day moving average price of $85.37. Public Service Enterprise Group Incorporated has a 12-month low of $57.24 and a 12-month high of $95.22. The company has a market capitalization of $41.56 billion, a P/E ratio of 20.50, a P/E/G ratio of 2.67 and a beta of 0.64. 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 (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. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 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 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 earnings per share. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of recent analyst reports. UBS Group boosted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Scotiabank raised their target price 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. Evercore ISI boosted their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

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.