Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,712 shares of the utilities provider’s stock after selling 1,559 shares during the period. Valley Wealth Managers Inc.’s holdings in Public Service Enterprise Group were worth $3,896,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in shares of Public Service Enterprise Group by 166.5% during the fourth quarter. BNP Paribas Financial Markets now owns 300,146 shares of the utilities provider’s stock valued at $18,354,000 after buying an additional 187,523 shares during the last quarter. Donoghue Forlines LLC bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $600,000. Versor Investments LP boosted its position in Public Service Enterprise Group by 27.7% during the 4th quarter. Versor Investments LP now owns 27,937 shares of the utilities provider’s stock worth $1,708,000 after acquiring an additional 6,053 shares during the period. Calton & Associates Inc. acquired a new position in Public Service Enterprise Group during the 4th quarter worth $489,000. Finally, Principal Securities Inc. bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth $273,000. 73.34% of the stock is currently owned by institutional investors.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the transaction, 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. In the last 90 days, insiders sold 7,948 shares of company stock valued at $511,814. Insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Stock Up 1.2 %

Shares of NYSE PEG traded up $0.82 during mid-day trading on Monday, reaching $68.64. The company had a trading volume of 2,930,324 shares, compared to its average volume of 2,844,611. The stock has a market capitalization of $34.22 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $68.87. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67. The stock’s 50 day moving average is $64.82 and its 200-day moving average is $62.37.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period last year, the business earned $0.64 EPS. The business’s quarterly revenue was down 17.0% on a year-over-year basis. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share 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. Stockholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.50%. Public Service Enterprise Group’s dividend payout ratio is currently 46.78%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Morgan Stanley restated an “overweight” rating and issued a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Guggenheim downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective on the stock. in a research note on Monday, January 22nd. TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Finally, Evercore ISI lifted their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.15.

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.