Cidel Asset Management Inc. Has $236,000 Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Cidel Asset Management Inc. reduced its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,799 shares of the utilities provider’s stock after selling 242 shares during the quarter. Cidel Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $236,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group in the third quarter worth $35,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter worth about $48,000. Financial Life Planners bought a new stake in Public Service Enterprise Group during the 4th quarter worth about $56,000. Brown Lisle Cummings Inc. acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at about $57,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Public Service Enterprise Group in the third quarter worth about $59,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Trading Down 0.4 %

NYSE PEG opened at $83.61 on Friday. Public Service Enterprise Group Incorporated has a one year low of $57.40 and a one year 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 firm has a market cap of $41.66 billion, a P/E ratio of 20.54, a P/E/G ratio of 2.77 and a beta of 0.64. The stock’s 50-day moving average is $85.93 and its 200-day moving average is $85.41.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Analyst Ratings Changes

PEG has been the subject of a number of research reports. Scotiabank raised their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Wells Fargo & Company boosted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group raised their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a 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. Finally, Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $88.83.

Insider Activity

In related news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’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 transaction, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,612 shares of company stock worth $836,549 over the last quarter. 0.57% of the stock is currently owned by company insiders.

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.