Community Bank N.A. Has $4.47 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Community Bank N.A. lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,090 shares of the utilities provider’s stock after selling 2,259 shares during the quarter. Community Bank N.A.’s holdings in Public Service Enterprise Group were worth $4,469,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PEG. Rockline Wealth Management LLC acquired a new position in Public Service Enterprise Group during the fourth quarter worth $1,185,000. Allspring Global Investments Holdings LLC boosted its holdings in Public Service Enterprise Group by 4.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock worth $25,397,000 after purchasing an additional 17,838 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Public Service Enterprise Group by 5,613.8% during the fourth quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock worth $10,545,000 after purchasing an additional 169,425 shares during the last quarter. PATRIZIA Pty Ltd acquired a new position in Public Service Enterprise Group during the fourth quarter worth $5,158,000. Finally, Duality Advisers LP boosted its holdings in Public Service Enterprise Group by 716.0% during the fourth quarter. Duality Advisers LP now owns 45,811 shares of the utilities provider’s stock worth $2,801,000 after purchasing an additional 40,197 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PEG shares. BMO Capital Markets reduced their target price on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a report on Tuesday, February 27th. Royal Bank of Canada upped their price target on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Scotiabank dropped their price target on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday. Guggenheim lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a research report on Monday, January 22nd. Finally, Wells Fargo & Company upped their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $67.15.

Public Service Enterprise Group Stock Performance

Shares of PEG traded up $0.74 during trading hours on Wednesday, hitting $67.23. The company had a trading volume of 3,338,990 shares, compared to its average volume of 2,844,853. The firm has a market cap of $33.52 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 2.92 and a beta of 0.58. The business has a fifty day moving average of $64.31 and a 200-day moving average of $62.18. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $67.51. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The company’s revenue was down 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is 46.78%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.37, for a total transaction of $91,192.38. Following the transaction, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the sale, the chief executive officer now owns 152,347 shares in the company, valued at $10,111,270.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,948 shares of company stock valued at $511,814. 0.18% of the stock is owned by company insiders.

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.