CFS Investment Advisory Services LLC Sells 345 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

CFS Investment Advisory Services LLC lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,850 shares of the utilities provider’s stock after selling 345 shares during the period. CFS Investment Advisory Services LLC’s holdings in Public Service Enterprise Group were worth $1,086,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PEG. Dynamic Advisor Solutions LLC boosted its position in Public Service Enterprise Group by 6.3% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 47,076 shares of the utilities provider’s stock valued at $3,977,000 after purchasing an additional 2,803 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Public Service Enterprise Group by 0.4% during the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock valued at $2,990,000 after buying an additional 139 shares during the last quarter. McGlone Suttner Wealth Management Inc. boosted its holdings in shares of Public Service Enterprise Group by 6.9% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 5,355 shares of the utilities provider’s stock valued at $452,000 after buying an additional 345 shares in the last quarter. Secure Asset Management LLC grew its position in shares of Public Service Enterprise Group by 9.3% in the 4th quarter. Secure Asset Management LLC now owns 21,148 shares of the utilities provider’s stock worth $1,787,000 after buying an additional 1,801 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Public Service Enterprise Group by 10.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 66,610 shares of the utilities provider’s stock worth $5,628,000 after acquiring an additional 6,532 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Down 0.1 %

PEG stock opened at $88.04 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The firm’s fifty day simple moving average is $87.80 and its 200-day simple moving average is $84.86. Public Service Enterprise Group Incorporated has a 12 month low of $56.91 and a 12 month high of $95.22. The company has a market capitalization of $43.86 billion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 2.82 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates 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 revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 earnings per share. As a group, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.73%. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

Insider Activity 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 dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the sale, the chief executive officer now owns 144,212 shares in the company, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,234 shares of company stock worth $722,037. 0.57% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PEG shares. UBS Group raised their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Barclays dropped their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. BMO Capital Markets increased their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Evercore ISI boosted their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.17.

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.