Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,140 shares of the utilities provider’s stock after selling 1,332 shares during the period. Mission Wealth Management LP’s holdings in Public Service Enterprise Group were worth $1,786,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Foundations Investment Advisors LLC raised its holdings in Public Service Enterprise Group by 27.0% in the 4th 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 acquired a new stake in shares of Public Service Enterprise Group during the third quarter valued at about $8,244,000. Cullen Investment Group LTD. raised 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 acquiring an additional 10,610 shares during the period. Arvest Bank Trust Division acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $2,860,000. Finally, Parsons Capital Management Inc. RI purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $2,565,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of research analyst reports. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Scotiabank boosted 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. BMO Capital Markets raised their target price on 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. Wells Fargo & Company dropped their target price on 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. Finally, Guggenheim reissued a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.83.

Public Service Enterprise Group Stock Up 0.8 %

Shares of Public Service Enterprise Group stock opened at $81.79 on Tuesday. Public Service Enterprise Group Incorporated has a 52-week low of $61.99 and a 52-week high of $95.22. The company has a 50 day moving average of $84.71 and a 200 day moving average of $86.08. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $40.75 billion, a P/E ratio of 20.10, a P/E/G ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.63 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.08%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the transaction, the chief executive officer now directly owns 144,212 shares in the company, valued at $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.57% of the company’s stock.

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.