WealthShield Partners LLC Has $2.07 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

WealthShield Partners LLC trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,458 shares of the utilities provider’s stock after selling 1,446 shares during the quarter. WealthShield Partners LLC’s holdings in Public Service Enterprise Group were worth $2,066,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEG. Ashton Thomas Securities LLC acquired a new stake in Public Service Enterprise Group in the third quarter worth about $35,000. Wingate Wealth Advisors Inc. acquired a new stake in Public Service Enterprise Group in the fourth quarter worth about $35,000. Stonebridge Financial Group LLC acquired a new stake in Public Service Enterprise Group in the fourth quarter worth about $54,000. Financial Life Planners acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $56,000. Finally, Brown Lisle Cummings Inc. acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $57,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Public Service Enterprise Group Trading Down 1.0 %

NYSE:PEG opened at $83.82 on Monday. Public Service Enterprise Group Incorporated has a fifty-two week low of $59.29 and a fifty-two week high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The stock has a market capitalization of $41.76 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. The business’s 50-day simple moving average is $84.99 and its 200-day simple moving average is $85.99.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is 61.92%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.57% of the company’s stock.

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.