Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Forsta AP Fonden

Forsta AP Fonden decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 202,600 shares of the utilities provider’s stock after selling 5,100 shares during the quarter. Forsta AP Fonden’s holdings in Public Service Enterprise Group were worth $17,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at about $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at about $48,000. Legacy Investment Solutions LLC acquired a new position in Public Service Enterprise Group in the third quarter valued at about $59,000. Fortitude Family Office LLC lifted its position in Public Service Enterprise Group by 325.0% in the third quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after buying an additional 611 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its position in Public Service Enterprise Group by 30.2% in the third quarter. GHP Investment Advisors Inc. now owns 1,107 shares of the utilities provider’s stock valued at $99,000 after buying an additional 257 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the topic of a number of recent analyst reports. UBS Group upped 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 report on Wednesday, October 30th. BMO Capital Markets upped 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 report on Monday, October 21st. Evercore ISI upped 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 report on Tuesday, October 8th. Scotiabank upped their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.83.

Insider Buying and Selling

In other news, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on 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 directly owns 144,212 shares of the company’s stock, valued at $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,234 shares of company stock worth $722,037. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Up 0.2 %

PEG stock opened at $81.87 on Thursday. The company’s 50 day moving average price is $87.49 and its 200 day moving average price is $85.07. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a fifty-two week low of $57.24 and a fifty-two week high of $95.22. The firm has a market capitalization of $40.79 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 2.82 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were paid a dividend of $0.60 per share. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.93%. Public Service Enterprise Group’s payout ratio is 58.97%.

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.