Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Private Trust Co. NA

Private Trust Co. NA decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 17.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,244 shares of the utilities provider’s stock after selling 688 shares during the quarter. Private Trust Co. NA’s holdings in Public Service Enterprise Group were worth $274,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Foundations Investment Advisors LLC grew its position in Public Service Enterprise Group by 27.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after buying an additional 18,627 shares during the period. DRW Securities LLC purchased a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth about $8,244,000. Cullen Investment Group LTD. increased its stake in shares of Public Service Enterprise Group by 65.3% in the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after purchasing an additional 10,610 shares in the last quarter. Arvest Bank Trust Division acquired a new position in Public Service Enterprise Group in the 3rd quarter worth about $2,860,000. Finally, Parsons Capital Management Inc. RI acquired a new position in Public Service Enterprise Group in the 4th quarter worth about $2,565,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Scotiabank raised their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $88.00 to $84.00 in a report on Monday, January 27th. BMO Capital Markets increased their price objective on shares of 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. Guggenheim reiterated a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company reduced their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.83.

Public Service Enterprise Group Stock Up 0.8 %

PEG stock opened at $81.79 on Tuesday. 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 firm has a 50-day moving average of $84.71 and a two-hundred day moving average of $86.08. Public Service Enterprise Group Incorporated has a 12 month low of $61.99 and a 12 month high of $95.22. The company has a market cap of $40.75 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 earnings per share. As a group, analysts forecast 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 company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $0.63 per share. This is a boost 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 dividend yield of 3.08%. Public Service Enterprise Group’s payout ratio is presently 71.19%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated 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 directly owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by insiders.

About Public Service Enterprise Group

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.