Sheaff Brock Investment Advisors LLC Sells 953 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Sheaff Brock Investment Advisors LLC cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 19.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,995 shares of the utilities provider’s stock after selling 953 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Public Service Enterprise Group were worth $338,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of PEG. Allworth Financial LP lifted its holdings in shares of Public Service Enterprise Group by 103.3% in the 4th quarter. Allworth Financial LP now owns 10,844 shares of the utilities provider’s stock worth $957,000 after purchasing an additional 5,509 shares in the last quarter. Principal Securities Inc. lifted its position in Public Service Enterprise Group by 4.6% in the 4th quarter. Principal Securities Inc. now owns 6,021 shares of the utilities provider’s stock worth $509,000 after buying an additional 263 shares during the last quarter. WASHINGTON TRUST Co lifted its position in Public Service Enterprise Group by 60.2% in the fourth quarter. WASHINGTON TRUST Co now owns 1,054 shares of the utilities provider’s stock valued at $89,000 after purchasing an additional 396 shares during the last quarter. Center for Financial Planning Inc. increased its stake in shares of Public Service Enterprise Group by 3.0% during the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after buying an additional 120 shares during the period. Finally, Consolidated Planning Corp grew its stake in Public Service Enterprise Group by 25.9% in the fourth quarter. Consolidated Planning Corp now owns 5,593 shares of the utilities provider’s stock worth $473,000 after purchasing an additional 1,149 shares during the period. Institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PEG shares. UBS Group upped their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Finally, Scotiabank lifted their price target 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. Five investment 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 company. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average target price of $88.83.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $83.85 on Tuesday. The stock has a 50-day moving average of $85.18 and a two-hundred day moving average of $85.78. Public Service Enterprise Group Incorporated has a one year low of $58.96 and a one 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 market cap of $41.78 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.77 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $0.63 per share. The ex-dividend date is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.01%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is currently 58.97%.

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.