Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.9% in the 4th quarter, Holdings Channel reports. The firm owned 21,140 shares of the utilities provider’s stock after selling 1,332 shares during the period. Mission Wealth Management LP’s holdings in Public Service Enterprise Group were worth $1,786,000 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 purchased a new stake in Public Service Enterprise Group in the third quarter valued at approximately $35,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $35,000. Stonebridge Financial Group LLC purchased a new stake in Public Service Enterprise Group in the 4th quarter valued at $54,000. Financial Life Planners purchased a new stake in Public Service Enterprise Group in the 4th quarter valued at $56,000. Finally, Brown Lisle Cummings Inc. acquired a new stake in Public Service Enterprise Group during the 4th quarter worth $57,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 0.8 %

NYSE:PEG opened at $81.79 on Tuesday. Public Service Enterprise Group Incorporated has a 1 year low of $61.99 and a 1 year high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a fifty day moving average price of $84.71 and a two-hundred day moving average price of $86.08. The stock has a market capitalization of $40.75 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the company posted $0.54 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, sell-side analysts anticipate 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 business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.08%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. 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 Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on PEG shares. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Wells Fargo & Company dropped their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Bank of America decreased their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday. Scotiabank boosted their target price on 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. Finally, Guggenheim restated a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.83.

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.