B. Riley Wealth Advisors Inc. Lowers Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

B. Riley Wealth Advisors Inc. trimmed its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.6% in the third quarter, Holdings Channel.com reports. The firm owned 25,051 shares of the utilities provider’s stock after selling 1,219 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Public Service Enterprise Group were worth $2,260,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Heritage Wealth Management Inc. purchased a new stake in Public Service Enterprise Group in the second quarter valued at approximately $422,000. DRW Securities LLC purchased a new stake in Public Service Enterprise Group in the third quarter valued at approximately $8,244,000. Cerity Partners LLC grew its holdings in Public Service Enterprise Group by 36.1% in the third quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock valued at $8,575,000 after purchasing an additional 25,503 shares during the period. Meridian Wealth Management LLC purchased a new stake in Public Service Enterprise Group in the third quarter valued at approximately $2,965,000. Finally, Arvest Bank Trust Division purchased a new stake in Public Service Enterprise Group in the third quarter valued at approximately $2,860,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Up 1.0 %

NYSE PEG opened at $86.81 on Monday. The company’s fifty day simple moving average is $89.21 and its 200-day simple moving average is $82.46. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week 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. The stock has a market cap of $43.25 billion, a P/E ratio of 21.33, a PEG ratio of 3.18 and a beta of 0.62.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.76%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Wall Street Analyst Weigh In

PEG has been the subject of a number of recent analyst reports. Barclays lowered their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. 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 report on Thursday. Wells Fargo & Company lifted their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group started coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 price target on the stock. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.17.

Insider Buying and Selling

In related news, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the sale, the executive vice president now owns 48,397 shares in the company, valued at approximately $4,385,252.17. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the sale, the chief operating officer now owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,798 shares of company stock worth $1,595,921. Insiders own 0.57% of the company’s stock.

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.