Private Advisor Group LLC Reduces Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Private Advisor Group LLC trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 82,413 shares of the utilities provider’s stock after selling 149 shares during the quarter. Private Advisor Group LLC’s holdings in Public Service Enterprise Group were worth $6,963,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group during the third quarter worth $35,000. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group during the fourth quarter worth $35,000. Stonebridge Financial Group LLC acquired a new position in Public Service Enterprise Group during the fourth quarter worth $54,000. Financial Life Planners acquired a new position in Public Service Enterprise Group during the fourth quarter worth $56,000. Finally, Brown Lisle Cummings Inc. acquired a new position in Public Service Enterprise Group during the fourth quarter worth $57,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

PEG opened at $83.82 on Friday. The stock’s 50-day moving average price is $84.99 and its 200 day moving average price is $85.89. Public Service Enterprise Group Incorporated has a 12-month low of $59.29 and a 12-month high of $95.22. 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 firm has a market cap of $41.76 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.82 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid 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 yield of 3.01%. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the sale, the chief executive officer now owns 144,212 shares in the company, valued at $12,245,040.92. This represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PEG. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. UBS Group boosted their price objective 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. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Finally, Scotiabank upped 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. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average target price of $88.83.

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.