Gen Wealth Partners Inc Sells 578 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Gen Wealth Partners Inc cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 35.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,033 shares of the utilities provider’s stock after selling 578 shares during the quarter. Gen Wealth Partners Inc’s holdings in Public Service Enterprise Group were worth $87,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Foundations Investment Advisors LLC boosted its holdings in Public Service Enterprise Group by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after purchasing an additional 18,627 shares during the period. Cullen Investment Group LTD. raised its holdings in Public Service Enterprise Group by 65.3% in the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after acquiring an additional 10,610 shares in the last quarter. Parsons Capital Management Inc. RI bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $2,565,000. Czech National Bank grew its holdings in shares of Public Service Enterprise Group by 6.4% during the 4th quarter. Czech National Bank now owns 108,025 shares of the utilities provider’s stock worth $9,127,000 after purchasing an additional 6,545 shares in the last quarter. Finally, Avanza Fonder AB bought a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $4,736,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $78.92 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $71.89 and a 1 year high of $95.22. 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 firm’s 50 day moving average is $80.97 and its 200-day moving average is $84.50. The firm has a market capitalization of $39.38 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.78 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting analysts’ consensus estimates of $1.43. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the company earned $1.31 EPS. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 68.85%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. BMO Capital Markets lowered their price target on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating on the stock in a report on Thursday, April 10th. Guggenheim lowered their target price on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Bank of America decreased their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company cut their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Evercore ISI dropped their price objective on Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $88.81.

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 that occurred on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the transaction, the chief executive officer now directly owns 221,093 shares of the company’s stock, valued at approximately $17,523,831.18. This trade represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate insiders.

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.