Wealthfront Advisers LLC Sells 25,583 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Wealthfront Advisers LLC lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 88.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,385 shares of the utilities provider’s stock after selling 25,583 shares during the period. Wealthfront Advisers LLC’s holdings in Public Service Enterprise Group were worth $286,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SPX Gestao de Recursos Ltda raised its stake in Public Service Enterprise Group by 0.9% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 114,630 shares of the utilities provider’s stock worth $9,685,000 after buying an additional 1,000 shares in the last quarter. Global View Capital Management LLC bought a new position in Public Service Enterprise Group in the fourth quarter worth approximately $224,000. Citizens Financial Group Inc. RI bought a new position in Public Service Enterprise Group in the fourth quarter worth approximately $248,000. Sage Mountain Advisors LLC bought a new position in Public Service Enterprise Group in the fourth quarter worth approximately $241,000. Finally, Independent Advisor Alliance raised its stake in Public Service Enterprise Group by 14.2% in the fourth quarter. Independent Advisor Alliance now owns 10,022 shares of the utilities provider’s stock worth $847,000 after buying an additional 1,245 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

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 company’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 sale, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $82.23 on Tuesday. The firm has a market capitalization of $41.00 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 1-year low of $63.31 and a 1-year high of $95.22. The company’s fifty day moving average price is $83.67 and its 200-day moving average price is $86.03.

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

Public Service Enterprise Group Increases Dividend

The business 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 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 dividend on an annualized basis and a dividend yield of 3.06%. Public Service Enterprise Group’s payout ratio is 71.19%.

Analysts Set New Price Targets

A number of equities analysts recently commented on PEG shares. Scotiabank boosted their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Guggenheim reissued a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. BMO Capital Markets upped their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Finally, StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday. Six investment 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.83.

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.