Sigma Planning Corp Sells 1,396 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Sigma Planning Corp lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 33.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,835 shares of the utilities provider’s stock after selling 1,396 shares during the quarter. Sigma Planning Corp’s holdings in Public Service Enterprise Group were worth $240,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Compass Capital Corp MA ADV bought a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $309,000. ING Groep NV bought a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $22,443,000. Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Public Service Enterprise Group by 21.5% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,914 shares of the utilities provider’s stock valued at $1,514,000 after acquiring an additional 3,165 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $875,000. Finally, Atria Wealth Solutions Inc. raised its stake in Public Service Enterprise Group by 16.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 20,490 shares of the utilities provider’s stock valued at $1,731,000 after purchasing an additional 2,963 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was 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 in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.57% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. BMO Capital Markets boosted their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Guggenheim reaffirmed a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday. Scotiabank boosted their price target on 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. Finally, Wells Fargo & Company dropped their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Public Service Enterprise Group Stock Up 0.5 %

Shares of NYSE PEG opened at $81.09 on Friday. 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 company has a market cap of $40.40 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 2.78 and a beta of 0.64. Public Service Enterprise Group Incorporated has a 12 month low of $61.48 and a 12 month high of $95.22. The stock has a 50-day moving average price of $84.78 and a two-hundred day moving average price of $85.99.

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, beating the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The firm’s revenue was down 5.4% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.11%. 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 currently 71.19%.

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.