CFS Investment Advisory Services LLC Trims Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

CFS Investment Advisory Services LLC lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,850 shares of the utilities provider’s stock after selling 345 shares during the period. CFS Investment Advisory Services LLC’s holdings in Public Service Enterprise Group were worth $1,086,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC lifted its stake in Public Service Enterprise Group by 6.3% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 47,076 shares of the utilities provider’s stock worth $3,977,000 after purchasing an additional 2,803 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Public Service Enterprise Group by 0.4% in the 4th quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock valued at $2,990,000 after buying an additional 139 shares during the period. McGlone Suttner Wealth Management Inc. lifted its stake in Public Service Enterprise Group by 6.9% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 5,355 shares of the utilities provider’s stock worth $452,000 after acquiring an additional 345 shares in the last quarter. Secure Asset Management LLC boosted its holdings in Public Service Enterprise Group by 9.3% during the 4th quarter. Secure Asset Management LLC now owns 21,148 shares of the utilities provider’s stock valued at $1,787,000 after acquiring an additional 1,801 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in Public Service Enterprise Group by 10.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 66,610 shares of the utilities provider’s stock valued at $5,628,000 after acquiring an additional 6,532 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 0.1 %

PEG opened at $88.04 on Friday. The stock has a market capitalization of $43.86 billion, a P/E ratio of 21.63, a P/E/G ratio of 2.82 and a beta of 0.65. Public Service Enterprise Group Incorporated has a 12 month low of $56.91 and a 12 month high of $95.22. The business has a 50 day simple moving average of $87.80 and a 200-day simple moving average of $84.86. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the business posted $0.85 EPS. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.73%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the transaction, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,234 shares of company stock worth $722,037. 0.57% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Evercore ISI increased their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Scotiabank raised their price objective 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. BMO Capital Markets boosted their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Wells Fargo & Company upped their price objective on shares of 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. Finally, Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Four research 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 stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average target price of $89.17.

Public Service Enterprise Group 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.