Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 60.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,831 shares of the utilities provider's stock after selling 5,831 shares during the period. Legacy Financial Advisors Inc.'s holdings in Public Service Enterprise Group were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wingate Wealth Advisors Inc. purchased a new position in shares of Public Service Enterprise Group during the 4th quarter valued at about $35,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $39,000. Nemes Rush Group LLC purchased a new position in shares of Public Service Enterprise Group during the 4th quarter valued at approximately $53,000. Stonebridge Financial Group LLC acquired a new stake in Public Service Enterprise Group during the fourth quarter valued at $54,000. Finally, Financial Life Planners purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $56,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Down 0.6 %

Public Service Enterprise Group stock traded down $0.46 during mid-day trading on Wednesday, reaching $83.07. 1,989,616 shares of the company's stock were exchanged, compared to its average volume of 2,720,563. The company has a market cap of $41.42 billion, a P/E ratio of 20.41, a P/E/G ratio of 2.78 and a beta of 0.52. 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 Incorporated has a twelve month low of $64.03 and a twelve month high of $95.22. The company has a fifty day moving average of $81.92 and a 200-day moving average of $85.66.

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Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.01. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business's quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.03%. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 71.19%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Bank of America decreased their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Guggenheim restated a "buy" rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. BMO Capital Markets cut their price objective on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research report on Thursday, April 10th. Morgan Stanley upped their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Finally, StockNews.com raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $89.35.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the transaction, the chief executive officer now directly owns 221,670 shares of the company's stock, valued at approximately $18,372,009.60. This trade represents a 0.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is owned by company insiders.

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.