Sigma Planning Corp Sells 1,396 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Sigma Planning Corp cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 33.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,835 shares of the utilities provider’s stock after selling 1,396 shares during the period. Sigma Planning Corp’s holdings in Public Service Enterprise Group were worth $240,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PEG. Jennison Associates LLC boosted its holdings in Public Service Enterprise Group by 125.3% in the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock valued at $285,982,000 after acquiring an additional 1,882,667 shares during the last quarter. FMR LLC boosted its holdings in shares of Public Service Enterprise Group by 19.4% during the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock worth $481,825,000 after buying an additional 877,345 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of Public Service Enterprise Group by 376.3% during the 3rd quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider’s stock worth $72,321,000 after buying an additional 640,485 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Public Service Enterprise Group by 103.6% during the 4th quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider’s stock worth $80,313,000 after buying an additional 483,795 shares in the last quarter. Finally, Verition Fund Management LLC boosted its holdings in shares of Public Service Enterprise Group by 179.5% during the 3rd quarter. Verition Fund Management LLC now owns 706,884 shares of the utilities provider’s stock worth $63,061,000 after buying an additional 453,985 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Insider Activity

In other news, 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 transaction of $117,005.98. Following the completion of the sale, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PEG. Guggenheim restated a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday. Scotiabank increased their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Wells Fargo & Company cut their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday. BMO Capital Markets increased their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Public Service Enterprise Group Trading Up 0.5 %

NYSE PEG opened at $81.09 on Friday. The firm has a market capitalization of $40.40 billion, a P/E ratio of 19.92, a PEG ratio of 2.78 and a beta of 0.64. The business has a fifty day simple moving average of $84.78 and a 200 day simple moving average of $85.99. Public Service Enterprise Group Incorporated has a 12 month low of $61.48 and a 12 month high of $95.22. 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) last announced its 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. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the firm posted $0.54 EPS. The business’s revenue was down 5.4% compared to the same quarter last year. On average, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $0.63 per share. The ex-dividend date is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.11%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 71.19%.

About Public Service Enterprise Group

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.