Metis Global Partners LLC Reduces Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Metis Global Partners LLC trimmed its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.2% during the fourth quarter, HoldingsChannel reports. The firm owned 51,406 shares of the utilities provider’s stock after selling 1,144 shares during the period. Metis Global Partners LLC’s holdings in Public Service Enterprise Group were worth $4,343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ashton Thomas Securities LLC purchased a new position in Public Service Enterprise Group during the third quarter worth approximately $35,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $35,000. Stonebridge Financial Group LLC purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth $54,000. Financial Life Planners acquired a new position in shares of Public Service Enterprise Group during the 4th quarter valued at about $56,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Public Service Enterprise Group in the third quarter valued at about $59,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $81.09 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The company has a market cap of $40.40 billion, a P/E ratio of 19.92, a P/E/G ratio of 2.78 and a beta of 0.64. The stock has a 50-day moving average of $84.78 and a two-hundred day moving average of $86.04. Public Service Enterprise Group Incorporated has a 1-year low of $61.48 and a 1-year high of $95.22.

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 during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $0.54 earnings per share. As a group, analysts anticipate 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 paid a $0.63 dividend. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 71.19%.

Insider Activity 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 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 currently owned by company insiders.

Analysts Set New Price Targets

PEG has been the topic of a number of analyst reports. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday. Wells Fargo & Company lowered their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday. Scotiabank lifted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Finally, Guggenheim reiterated a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.50.

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.