Global Retirement Partners LLC Has $216,000 Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Global Retirement Partners LLC reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 17.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,552 shares of the utilities provider’s stock after selling 553 shares during the period. Global Retirement Partners LLC’s holdings in Public Service Enterprise Group were worth $216,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of PEG. International Assets Investment Management LLC grew its stake in shares of Public Service Enterprise Group by 9,306.2% in the 3rd quarter. International Assets Investment Management LLC now owns 404,938 shares of the utilities provider’s stock worth $36,125,000 after acquiring an additional 400,633 shares in the last quarter. Ballentine Partners LLC purchased a new stake in shares of Public Service Enterprise Group during the third quarter valued at approximately $238,000. Wealth Enhancement Advisory Services LLC grew its stake in Public Service Enterprise Group by 2.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 78,503 shares of the utilities provider’s stock valued at $7,003,000 after purchasing an additional 1,996 shares during the period. GHP Investment Advisors Inc. boosted its holdings in shares of Public Service Enterprise Group by 30.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 1,107 shares of the utilities provider’s stock worth $99,000 after buying an additional 257 shares during the last quarter. Finally, Modera Wealth Management LLC grew its position in Public Service Enterprise Group by 45.1% during the third quarter. Modera Wealth Management LLC now owns 12,113 shares of the utilities provider’s stock valued at $1,081,000 after buying an additional 3,765 shares during the period. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

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 Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Down 1.3 %

PEG opened at $83.23 on Wednesday. The firm has a market capitalization of $41.47 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. Public Service Enterprise Group Incorporated has a one year low of $59.29 and a one year high of $95.22. The company has a fifty day moving average price of $84.91 and a 200-day moving average price of $86.05. 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 (NYSE:PEG) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the company earned $0.54 earnings per share. Equities research analysts expect 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 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 dividend of $0.63 per share. This is a positive change 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 3.03%. Public Service Enterprise Group’s payout ratio is presently 61.92%.

Analyst Ratings Changes

PEG has been the topic of a number of research analyst reports. Scotiabank boosted their target price 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. UBS Group increased their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.83.

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.