GW Henssler & Associates Ltd. Reduces Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

GW Henssler & Associates Ltd. trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 233,591 shares of the utilities provider’s stock after selling 2,846 shares during the period. GW Henssler & Associates Ltd.’s holdings in Public Service Enterprise Group were worth $20,839,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PEG. Foundations Investment Advisors LLC grew its stake in Public Service Enterprise Group by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock worth $7,403,000 after acquiring an additional 18,627 shares during the period. DRW Securities LLC acquired a new position in Public Service Enterprise Group in the third quarter valued at $8,244,000. Cullen Investment Group LTD. lifted its position in Public Service Enterprise Group by 65.3% during the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after buying an additional 10,610 shares during the period. Arvest Bank Trust Division acquired a new stake in Public Service Enterprise Group in the 3rd quarter worth about $2,860,000. Finally, Parsons Capital Management Inc. RI purchased a new stake in Public Service Enterprise Group in the 4th quarter valued at about $2,565,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the transaction, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the firm’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 value of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,234 shares of company stock valued at $722,037 over the last 90 days. 0.18% of the stock is owned by company insiders.

Public Service Enterprise Group Price Performance

PEG stock opened at $83.57 on Monday. The stock’s 50 day moving average is $86.97 and its two-hundred day moving average is $85.17. Public Service Enterprise Group Incorporated has a 52-week low of $57.24 and a 52-week high of $95.22. The company has a market capitalization of $41.64 billion, a PE ratio of 20.53, a P/E/G ratio of 2.67 and a beta of 0.64. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share. Analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Analyst Ratings Changes

Several research firms recently issued reports on PEG. Wells Fargo & Company raised their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. UBS Group boosted their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Evercore ISI lifted their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, BMO Capital Markets increased their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Five research 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.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.83.

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.