Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Holdings Lowered by Traphagen Investment Advisors LLC

Traphagen Investment Advisors LLC reduced its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,427 shares of the utilities provider’s stock after selling 563 shares during the quarter. Public Service Enterprise Group accounts for 0.5% of Traphagen Investment Advisors LLC’s holdings, making the stock its 26th biggest position. Traphagen Investment Advisors LLC’s holdings in Public Service Enterprise Group were worth $4,852,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PEG. FMR LLC raised its holdings in shares of Public Service Enterprise Group by 19.4% in the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock worth $481,825,000 after purchasing an additional 877,345 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of 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 worth $134,006,000 after purchasing an additional 665,105 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Public Service Enterprise Group by 30.1% during the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock valued at $255,954,000 after acquiring an additional 663,012 shares during the period. National Bank of Canada FI raised its holdings in shares of Public Service Enterprise Group by 376.3% during the third quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider’s stock valued at $72,321,000 after acquiring an additional 640,485 shares during the period. Finally, Verition Fund Management LLC raised its holdings in shares of Public Service Enterprise Group by 179.5% during the third quarter. Verition Fund Management LLC now owns 706,884 shares of the utilities provider’s stock valued at $63,061,000 after acquiring an additional 453,985 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Performance

PEG stock opened at $90.47 on Wednesday. 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 company has a market capitalization of $45.07 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 2.82 and a beta of 0.65. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $95.22. The firm has a 50 day moving average of $87.70 and a two-hundred day moving average of $84.61.

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 the consensus estimate of $0.87 by $0.03. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 earnings per share. As a group, equities analysts anticipate 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. Shareholders of record on Tuesday, December 10th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is 58.97%.

Analysts Set New Price Targets

PEG has been the topic of a number of recent analyst reports. Evercore ISI boosted their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Barclays cut their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. UBS Group boosted their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Scotiabank boosted 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 report on Thursday, December 12th. Finally, Wells Fargo & Company upped 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. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.17.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,234 shares of company stock valued at $722,037 over the last ninety days. Corporate insiders own 0.18% 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.