Public Service Enterprise Group Incorporated (NYSE:PEG) Stake Lessened by SG Americas Securities LLC

SG Americas Securities LLC reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 79.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,230 shares of the utilities provider’s stock after selling 40,102 shares during the period. SG Americas Securities LLC’s holdings in Public Service Enterprise Group were worth $864,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Mackenzie Financial Corp raised its stake in shares of Public Service Enterprise Group by 1.1% during the second quarter. Mackenzie Financial Corp now owns 51,118 shares of the utilities provider’s stock valued at $3,767,000 after purchasing an additional 566 shares in the last quarter. Creative Planning raised its holdings in Public Service Enterprise Group by 17.5% during the 2nd quarter. Creative Planning now owns 90,985 shares of the utilities provider’s stock worth $6,706,000 after buying an additional 13,559 shares during the period. NewEdge Advisors LLC boosted its stake in Public Service Enterprise Group by 22.1% in the 2nd quarter. NewEdge Advisors LLC now owns 27,559 shares of the utilities provider’s stock worth $2,031,000 after purchasing an additional 4,993 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Public Service Enterprise Group by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 28,682 shares of the utilities provider’s stock valued at $2,114,000 after buying an additional 2,003 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new position in Public Service Enterprise Group during the 2nd quarter valued at about $66,000. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the transaction, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. This represents a 18.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,234 shares of company stock valued at $722,037 in the last 90 days. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $81.71 on Wednesday. The firm’s 50 day simple moving average is $87.66 and its 200 day simple moving average is $85.03. Public Service Enterprise Group Incorporated has a fifty-two week low of $57.24 and a fifty-two week high of $95.22. The company has a market capitalization of $40.71 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 2.82 and a beta of 0.65. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. As a group, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Wall Street Analyst Weigh In

PEG has been the subject of a number of analyst reports. Evercore ISI lifted their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $88.00 to $84.00 in a report on Monday. Wells Fargo & Company upped their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. BMO Capital Markets raised their target price on shares of 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. Finally, UBS Group boosted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

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.