Pinnacle Wealth Management Advisory Group LLC Reduces Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Pinnacle Wealth Management Advisory Group LLC lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.7% in the 4th quarter, HoldingsChannel reports. The firm owned 5,413 shares of the utilities provider’s stock after selling 153 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Public Service Enterprise Group were worth $457,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new stake in Public Service Enterprise Group in the third quarter worth $35,000. Wingate Wealth Advisors Inc. purchased a new stake in Public Service Enterprise Group in the 4th quarter worth about $35,000. Northwest Investment Counselors LLC bought a new stake in Public Service Enterprise Group in the 3rd quarter valued at about $48,000. Stonebridge Financial Group LLC bought a new stake in Public Service Enterprise Group in the 4th quarter valued at about $54,000. Finally, Financial Life Planners purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at about $56,000. Institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the sale, the chief executive officer now owns 144,212 shares in the company, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,712 shares of company stock valued at $317,644. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Down 0.0 %

PEG stock opened at $83.85 on Monday. Public Service Enterprise Group Incorporated has a 1-year low of $58.96 and a 1-year high of $95.22. The stock has a market cap of $41.78 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The company’s 50 day moving average is $85.18 and its 200 day moving average is $85.74.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $0.63 per share. The ex-dividend date is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.01%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. UBS Group boosted their price target 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. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Scotiabank boosted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets raised their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.83.

About Public Service Enterprise Group

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.