Dana Investment Advisors Inc. Has $2.30 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Dana Investment Advisors Inc. reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,241 shares of the utilities provider's stock after selling 3,554 shares during the quarter. Dana Investment Advisors Inc.'s holdings in Public Service Enterprise Group were worth $2,302,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Public Service Enterprise Group during the 3rd quarter valued at $35,000. Wingate Wealth Advisors Inc. bought a new position in Public Service Enterprise Group during the 4th quarter valued at $35,000. Stonebridge Financial Group LLC bought a new position in Public Service Enterprise Group during the 4th quarter valued at $54,000. Financial Life Planners bought a new position in Public Service Enterprise Group during the 4th quarter valued at $56,000. Finally, Brown Lisle Cummings Inc. bought a new position in Public Service Enterprise Group during the 4th quarter valued at $57,000. 73.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated 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 directly owns 126,791 shares of the company's stock, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is owned by company insiders.

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Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded up $0.90 during midday trading on Friday, hitting $79.10. The company's stock had a trading volume of 4,391,970 shares, compared to its average volume of 2,671,094. The stock has a market capitalization of $39.44 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 2.78 and a beta of 0.60. The stock's 50 day simple moving average is $84.27 and its 200 day simple moving average is $86.03. Public Service Enterprise Group Incorporated has a fifty-two week low of $63.31 and a fifty-two week high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate 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 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. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share 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. Investors of record on Monday, March 10th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a yield of 3.19%. Public Service Enterprise Group's dividend payout ratio (DPR) is 71.19%.

Analyst Ratings Changes

PEG has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective 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. 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 report on Wednesday, February 26th. Scotiabank increased their target price on 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. Bank of America cut their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Finally, Guggenheim reiterated a "buy" rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $89.83.

Public Service Enterprise Group Company 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.