Sanibel Captiva Trust Company Inc. Has $14.24 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Sanibel Captiva Trust Company Inc. decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 168,508 shares of the utilities provider's stock after selling 4,905 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in Public Service Enterprise Group were worth $14,237,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Public Service Enterprise Group in the third quarter valued at approximately $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group during the third quarter worth $48,000. Legacy Investment Solutions LLC bought a new stake in Public Service Enterprise Group in the 3rd quarter valued at $59,000. Kimelman & Baird LLC bought a new stake in Public Service Enterprise Group in the 2nd quarter valued at $66,000. Finally, Fortitude Family Office LLC boosted its stake in Public Service Enterprise Group by 325.0% in the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider's stock worth $71,000 after purchasing an additional 611 shares during the period. Institutional investors and hedge funds own 73.34% of the company's stock.

Analysts Set New Price Targets

PEG has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Guggenheim reiterated a "buy" rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. UBS Group boosted their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Scotiabank lifted 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 research note on Thursday, December 12th. Finally, Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an "overweight" rating in a research note on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $89.17.

Insider Buying and Selling

In other news, SVP Richard T. Thigpen sold 5,900 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the sale, the senior vice president now directly owns 25,829 shares in the company, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value 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. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,234 shares of company stock valued at $722,037. Insiders own 0.57% of the company's stock.

Public Service Enterprise Group Stock Performance

NYSE:PEG traded down $0.28 on Friday, hitting $88.20. The company's stock had a trading volume of 2,714,176 shares, compared to its average volume of 1,757,952. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $95.22. The firm has a market capitalization of $43.94 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 2.81 and a beta of 0.65. The stock has a fifty day moving average of $87.70 and a two-hundred day moving average of $84.43. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the firm posted $0.85 EPS. The company's quarterly revenue was up 7.6% on a year-over-year basis. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share 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 issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio is presently 58.97%.

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.