Forsta AP Fonden Cuts Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Forsta AP Fonden lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 202,600 shares of the utilities provider’s stock after selling 5,100 shares during the period. Forsta AP Fonden’s holdings in Public Service Enterprise Group were worth $17,118,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in Public Service Enterprise Group in the 3rd quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group in the 3rd quarter worth approximately $48,000. Legacy Investment Solutions LLC acquired a new stake in Public Service Enterprise Group in the 3rd quarter worth approximately $59,000. 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 in the last quarter. Finally, GHP Investment Advisors Inc. boosted its stake in Public Service Enterprise Group by 30.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 1,107 shares of the utilities provider’s stock worth $99,000 after purchasing an additional 257 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $81.87 on Thursday. The firm has a market cap of $40.79 billion, a PE ratio of 20.12, a PEG ratio of 2.82 and a beta of 0.65. The firm has a fifty day moving average of $87.49 and a 200 day moving average of $85.07. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a one year low of $57.24 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 EPS. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS 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. 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 2.93%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is 58.97%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. UBS Group lifted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Evercore ISI lifted their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company lifted 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. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction on Monday, November 11th. The shares were 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 owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’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 sale, the chief executive officer now directly owns 144,212 shares of the company’s stock, 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. Insiders sold 8,234 shares of company stock valued at $722,037 over the last 90 days. 0.57% of the stock is currently owned by corporate insiders.

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.