Princeton Global Asset Management LLC Reduces Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Princeton Global Asset Management LLC reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 21.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,717 shares of the utilities provider's stock after selling 2,993 shares during the quarter. Princeton Global Asset Management LLC's holdings in Public Service Enterprise Group were worth $905,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PEG. Old Port Advisors boosted its holdings in shares of Public Service Enterprise Group by 0.5% during the third quarter. Old Port Advisors now owns 23,527 shares of the utilities provider's stock worth $2,099,000 after purchasing an additional 113 shares during the period. Smallwood Wealth Investment Management LLC grew its position in shares of Public Service Enterprise Group by 1.3% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider's stock worth $827,000 after buying an additional 115 shares during the last quarter. Spire Wealth Management raised its holdings in shares of Public Service Enterprise Group by 2.4% during the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider's stock valued at $440,000 after acquiring an additional 121 shares in the last quarter. First Commonwealth Financial Corp PA boosted its holdings in Public Service Enterprise Group by 1.3% in the third quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider's stock valued at $842,000 after acquiring an additional 123 shares in the last quarter. Finally, Cigna Investments Inc. New raised its holdings in Public Service Enterprise Group by 2.5% in the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider's stock worth $451,000 after purchasing an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PEG. BMO Capital Markets upped their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a "market perform" rating in a report on Monday, October 21st. Guggenheim reissued a "buy" rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Wells Fargo & Company upped their target price on shares of 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. Barclays lowered shares of Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, Scotiabank lifted their target price 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. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $88.83.

Public Service Enterprise Group Stock Performance

PEG stock traded down $0.18 during midday trading on Thursday, reaching $83.93. 1,607,842 shares of the company's stock traded hands, compared to its average volume of 2,259,848. Public Service Enterprise Group Incorporated has a 52-week low of $57.40 and a 52-week high of $95.22. The stock has a market cap of $41.81 billion, a P/E ratio of 20.62, a PEG ratio of 2.67 and a beta of 0.64. 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 stock's 50-day moving average is $86.35 and its 200 day moving average is $85.36.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same period in the prior year, the company earned $0.85 earnings per share. The firm's revenue was up 7.6% on a year-over-year basis. As a group, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a $0.60 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.86%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 58.97%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the transaction, the chief executive officer now owns 144,212 shares in the company, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Kim C. Hanemann sold 956 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the transaction, the chief operating officer now owns 70,011 shares of the company's stock, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,612 shares of company stock valued at $836,549. Corporate insiders own 0.18% of the company's stock.

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.