Strategic Investment Advisors MI Lowers Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Strategic Investment Advisors MI cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,596 shares of the utilities provider’s stock after selling 195 shares during the quarter. Strategic Investment Advisors MI’s holdings in Public Service Enterprise Group were worth $1,487,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Harrell Investment Partners LLC lifted its position in shares of Public Service Enterprise Group by 4.0% during the fourth quarter. Harrell Investment Partners LLC now owns 30,494 shares of the utilities provider’s stock valued at $2,576,000 after buying an additional 1,175 shares during the last quarter. Moody Lynn & Lieberson LLC raised its stake in Public Service Enterprise Group by 2.2% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 9,892 shares of the utilities provider’s stock valued at $836,000 after buying an additional 210 shares during the last quarter. Patton Albertson Miller Group LLC grew its stake in shares of Public Service Enterprise Group by 2.7% during the fourth quarter. Patton Albertson Miller Group LLC now owns 83,544 shares of the utilities provider’s stock worth $7,059,000 after acquiring an additional 2,192 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $375,000. Finally, Stewardship Advisors LLC boosted its stake in Public Service Enterprise Group by 6.8% in the 4th quarter. Stewardship Advisors LLC now owns 3,091 shares of the utilities provider’s stock worth $261,000 after purchasing an additional 198 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PEG has been the subject of a number of research analyst reports. BMO Capital Markets raised their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. UBS Group lifted their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Scotiabank increased their price objective on 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. Barclays decreased their target price on 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. Finally, Wells Fargo & Company raised their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.17.

Insider Activity

In related news, COO Kim C. Hanemann sold 956 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,234 shares of company stock valued at $722,037. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Trading Down 0.1 %

PEG stock opened at $88.04 on Monday. Public Service Enterprise Group Incorporated has a 52-week low of $56.91 and a 52-week high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a market cap of $43.86 billion, a P/E ratio of 21.63, a PEG ratio of 2.82 and a beta of 0.65. The company’s 50-day simple moving average is $87.80 and its 200-day simple moving average is $84.93.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

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

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.