Stratos Wealth Partners LTD. Sells 2,130 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Stratos Wealth Partners LTD. cut its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 16.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,662 shares of the utilities provider’s stock after selling 2,130 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Public Service Enterprise Group were worth $901,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PEG. CWM LLC boosted its stake in Public Service Enterprise Group by 4.2% in the third quarter. CWM LLC now owns 21,653 shares of the utilities provider’s stock valued at $1,932,000 after buying an additional 867 shares in the last quarter. Retirement Planning Group LLC acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at approximately $333,000. Douglas Lane & Associates LLC bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at approximately $207,000. Harrell Investment Partners LLC increased its position in Public Service Enterprise Group by 38.7% during the 3rd quarter. Harrell Investment Partners LLC now owns 29,319 shares of the utilities provider’s stock worth $2,616,000 after purchasing an additional 8,182 shares in the last quarter. Finally, Creative Planning lifted its stake in Public Service Enterprise Group by 5.2% in the 3rd quarter. Creative Planning now owns 95,695 shares of the utilities provider’s stock valued at $8,537,000 after purchasing an additional 4,710 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PEG. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Scotiabank boosted their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. UBS Group raised their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of 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. Finally, Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Five research 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 company. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average target price of $88.83.

Insider Activity at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the transaction, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,712 shares of company stock worth $317,644 in the last quarter. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Up 0.3 %

NYSE PEG opened at $83.88 on Tuesday. The stock has a market capitalization of $41.79 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.77 and a beta of 0.64. The business has a 50 day simple moving average of $85.93 and a 200 day simple moving average of $85.54. 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 one year low of $57.40 and a one year high of $95.22.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a $0.60 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.86%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

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.