Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Holdings Lessened by Sentry Investment Management LLC

Sentry Investment Management LLC cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,020 shares of the utilities provider’s stock after selling 329 shares during the period. Sentry Investment Management LLC’s holdings in Public Service Enterprise Group were worth $171,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PEG. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group in the third quarter valued at approximately $35,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $35,000. Stonebridge Financial Group LLC acquired a new position in Public Service Enterprise Group during the 4th quarter valued at approximately $54,000. Financial Life Planners bought a new position in Public Service Enterprise Group during the 4th quarter worth $56,000. Finally, Brown Lisle Cummings Inc. acquired a new stake in Public Service Enterprise Group in the fourth quarter worth $57,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $83.23 on Wednesday. Public Service Enterprise Group Incorporated has a 1 year low of $59.29 and a 1 year high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a fifty day moving average price of $84.91 and a two-hundred day moving average price of $86.05. The firm has a market cap of $41.47 billion, a P/E ratio of 20.45, a PEG ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company earned $0.54 earnings per share. Public Service Enterprise Group’s revenue was down 5.4% compared to the same quarter last year. Research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $0.63 per share. The ex-dividend date is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.03%. Public Service Enterprise Group’s dividend payout ratio is currently 61.92%.

Wall Street Analyst Weigh In

PEG has been the subject of several analyst reports. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. UBS Group boosted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Scotiabank raised their price target 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. Finally, Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.83.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.57% of the stock is currently owned by 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.