Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Position Trimmed by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,968 shares of the utilities provider’s stock after selling 2,522 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Public Service Enterprise Group were worth $2,077,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Operose Advisors LLC boosted its position in shares of Public Service Enterprise Group by 435.0% during the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after buying an additional 435 shares during the period. Addison Advisors LLC bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $31,000. Bruce G. Allen Investments LLC bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $36,000. Anchor Investment Management LLC acquired a new position in Public Service Enterprise Group during the 4th quarter worth $37,000. Finally, Scarborough Advisors LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth $41,000. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Mizuho lifted their price objective on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. BMO Capital Markets dropped their price target on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 27th. Evercore ISI increased their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Bank of America boosted their target price on Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, Morgan Stanley upped their target price on Public Service Enterprise Group from $72.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.67.

Public Service Enterprise Group Trading Up 0.3 %

Public Service Enterprise Group stock opened at $73.30 on Wednesday. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $75.82. The firm’s 50 day moving average price is $71.41 and its two-hundred day moving average price is $65.21. The firm has a market cap of $36.51 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 3.04 and a beta of 0.59. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The business’s revenue was down 26.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 earnings per share. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders 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 annualized dividend and a yield of 3.27%. Public Service Enterprise Group’s payout ratio is presently 66.48%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the transaction, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 3,148 shares of company stock valued at $212,750. 0.18% of the stock is currently owned by corporate insiders.

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.