Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 49.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,407 shares of the utilities provider’s stock after selling 145,808 shares during the quarter. Clearbridge Investments LLC’s holdings in Public Service Enterprise Group were worth $12,539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group during the 4th quarter valued at approximately $35,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group in the 4th quarter worth $39,000. Stonebridge Financial Group LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter worth about $54,000. Financial Life Planners purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at about $56,000. Finally, Millstone Evans Group LLC acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at about $56,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Up 0.7 %

Shares of NYSE:PEG opened at $83.85 on Thursday. The business’s 50 day moving average price is $82.68 and its 200-day moving average price is $86.10. Public Service Enterprise Group Incorporated has a 1 year low of $64.03 and a 1 year high of $95.22. The firm has a market capitalization of $41.80 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. 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 business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. On average, equities research 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 was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were 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. This represents a $2.52 annualized dividend and a yield of 3.01%. The ex-dividend date was Monday, March 10th. Public Service Enterprise Group’s payout ratio is 71.19%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PEG shares. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Scotiabank upped their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price for the company. in a report on Wednesday, March 19th. Guggenheim reaffirmed a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Finally, Wells Fargo & Company reduced 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 note on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $89.65.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares in the company, valued at approximately $18,372,009.60. The trade was a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group 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.