RWA Wealth Partners LLC Sells 902 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

RWA Wealth Partners LLC decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 20.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,490 shares of the utilities provider’s stock after selling 902 shares during the period. RWA Wealth Partners LLC’s holdings in Public Service Enterprise Group were worth $295,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Townsquare Capital LLC lifted its stake in Public Service Enterprise Group by 15.6% in the third quarter. Townsquare Capital LLC now owns 5,001 shares of the utilities provider’s stock valued at $446,000 after buying an additional 674 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at about $519,000. Edgestream Partners L.P. acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at approximately $372,000. Janus Henderson Group PLC boosted its stake in Public Service Enterprise Group by 12.5% during the 3rd quarter. Janus Henderson Group PLC now owns 107,082 shares of the utilities provider’s stock worth $9,553,000 after acquiring an additional 11,864 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Public Service Enterprise Group by 8,334.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 380,832 shares of the utilities provider’s stock valued at $33,974,000 after purchasing an additional 376,317 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $83.26 on Wednesday. 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 Incorporated has a twelve month low of $64.03 and a twelve month high of $95.22. The stock has a market capitalization of $41.51 billion, a P/E ratio of 20.46, a P/E/G ratio of 2.78 and a beta of 0.60. The company has a 50 day moving average of $82.77 and a 200-day moving average of $86.11.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results 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. 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 during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a $0.63 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.03%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is currently 71.19%.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Scotiabank lifted their target price 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. Guggenheim restated a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. BMO Capital Markets lifted 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, February 26th. Finally, Wells Fargo & Company lowered their target price 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 research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.65.

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.