First National Bank of Mount Dora Trust Investment Services Sells 2,680 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

First National Bank of Mount Dora Trust Investment Services reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,103 shares of the utilities provider’s stock after selling 2,680 shares during the quarter. Public Service Enterprise Group accounts for approximately 1.7% of First National Bank of Mount Dora Trust Investment Services’ investment portfolio, making the stock its 18th largest holding. First National Bank of Mount Dora Trust Investment Services’ holdings in Public Service Enterprise Group were worth $7,106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in shares of Public Service Enterprise Group in the third quarter valued at about $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group in the third quarter worth about $48,000. Legacy Investment Solutions LLC bought a new position in Public Service Enterprise Group in the third quarter worth about $59,000. Kimelman & Baird LLC bought a new position in Public Service Enterprise Group in the second quarter worth about $66,000. Finally, Fortitude Family Office LLC raised its holdings in Public Service Enterprise Group by 325.0% in the third quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 611 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $88.20 on Friday. The business’s 50 day moving average price is $87.65 and its 200 day moving average price is $84.26. The firm has a market cap of $43.94 billion, a P/E ratio of 21.67, a P/E/G ratio of 2.81 and a beta of 0.65. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $95.22. 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 earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. On average, sell-side analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.72%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Wall Street Analyst Weigh In

PEG has been the subject of a number of recent research reports. Evercore ISI boosted their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Wells Fargo & Company boosted their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Morgan Stanley boosted their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, UBS Group boosted their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.17.

Insider Buying and Selling 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 that occurred 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 completion of the transaction, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,234 shares of company stock valued at $722,037. 0.18% of the stock is owned by company insiders.

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.