Schechter Investment Advisors LLC Lowers Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Schechter Investment Advisors LLC reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,139 shares of the utilities provider’s stock after selling 667 shares during the period. Schechter Investment Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,786,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Jennison Associates LLC lifted its stake in shares of Public Service Enterprise Group by 125.3% in the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock valued at $285,982,000 after purchasing an additional 1,882,667 shares in the last quarter. FMR LLC lifted its position in Public Service Enterprise Group by 19.4% during the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after buying an additional 877,345 shares in the last quarter. National Bank of Canada FI grew its stake in Public Service Enterprise Group by 376.3% during the third quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider’s stock worth $72,321,000 after buying an additional 640,485 shares during the period. Van ECK Associates Corp increased its position in shares of Public Service Enterprise Group by 103.6% in the fourth quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider’s stock worth $80,313,000 after acquiring an additional 483,795 shares in the last quarter. Finally, Verition Fund Management LLC raised its stake in shares of Public Service Enterprise Group by 179.5% in the 3rd quarter. Verition Fund Management LLC now owns 706,884 shares of the utilities provider’s stock valued at $63,061,000 after acquiring an additional 453,985 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

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 Public Service Enterprise Group stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $81.79 on Tuesday. The company has a market cap of $40.75 billion, a PE ratio of 20.10, a P/E/G ratio of 2.78 and a beta of 0.64. Public Service Enterprise Group Incorporated has a fifty-two week low of $61.99 and a fifty-two week high of $95.22. The firm has a 50-day simple moving average of $84.71 and a 200 day simple moving average of $86.08. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business posted $0.54 earnings per share. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.63 dividend. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 3.08%. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

Wall Street Analyst Weigh In

PEG has been the subject of several recent research reports. Guggenheim reiterated a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. BMO Capital Markets increased their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Scotiabank boosted their price target 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. Barclays downgraded shares of 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 research report on Monday, January 27th. Finally, Bank of America reduced their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.83.

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.