Court Place Advisors LLC Has $1.98 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Court Place Advisors LLC decreased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 23,440 shares of the utilities provider’s stock after selling 756 shares during the period. Court Place Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,980,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. FMR LLC grew its holdings in Public Service Enterprise Group by 19.4% during the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after purchasing an additional 877,345 shares during the last quarter. Jennison Associates LLC grew its stake in Public Service Enterprise Group by 79.5% in the 3rd quarter. Jennison Associates LLC now owns 1,502,136 shares of the utilities provider’s stock valued at $134,006,000 after buying an additional 665,105 shares during the last quarter. Raymond James & Associates raised its holdings in Public Service Enterprise Group by 30.1% in the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock worth $255,954,000 after acquiring an additional 663,012 shares during the period. National Bank of Canada FI raised its holdings in Public Service Enterprise Group by 376.3% in the 3rd quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider’s stock worth $72,321,000 after acquiring an additional 640,485 shares during the period. Finally, Verition Fund Management LLC lifted its position in 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 acquiring an additional 453,985 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the topic of several research analyst reports. Scotiabank raised their price target on 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. Wells Fargo & Company raised their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $88.00 to $84.00 in a report on Monday. BMO Capital Markets raised their price objective on shares of 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. Finally, Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.83.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on 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 directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,234 shares of company stock valued at $722,037. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Trading Down 6.9 %

Shares of PEG stock opened at $81.99 on Tuesday. The firm has a fifty day moving average of $87.80 and a 200-day moving average of $84.99. The stock has a market cap of $40.85 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 2.82 and a beta of 0.65. Public Service Enterprise Group Incorporated has a 52-week low of $57.24 and a 52-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.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. The firm 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 company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. On average, equities research analysts forecast 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 company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.93%. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

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.