Atria Investments Inc Decreases Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Atria Investments Inc lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,690 shares of the utilities provider’s stock after selling 2,144 shares during the quarter. Atria Investments Inc’s holdings in Public Service Enterprise Group were worth $4,959,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Ashton Thomas Securities LLC purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter worth $35,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $35,000. Stonebridge Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $54,000. Financial Life Planners bought a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $56,000. Finally, Brown Lisle Cummings Inc. purchased a new position in shares of Public Service Enterprise Group in the fourth quarter worth approximately $57,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 1.1 %

Shares of Public Service Enterprise Group stock opened at $79.10 on Friday. The company has a market capitalization of $39.44 billion, a P/E ratio of 19.43, a P/E/G ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a fifty-two week low of $63.31 and a fifty-two week high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a fifty day moving average of $84.27 and a 200 day moving average of $85.99.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.54 EPS. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $0.63 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 3.19%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is presently 71.19%.

Analyst Ratings Changes

PEG has been the subject of a number of recent research reports. Scotiabank boosted 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 research report on Thursday, December 12th. BMO Capital Markets upped their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Bank of America lowered their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Wednesday. Six 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’s stock. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $89.83.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.57% of the company’s stock.

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.