GHP Investment Advisors Inc. Sells 300 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

GHP Investment Advisors Inc. cut its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 26.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 828 shares of the utilities provider’s stock after selling 300 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Public Service Enterprise Group were worth $51,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Custom Index Systems LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $504,000. Sequoia Financial Advisors LLC raised its holdings in shares of Public Service Enterprise Group by 73.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 13,495 shares of the utilities provider’s stock valued at $825,000 after purchasing an additional 5,700 shares during the last quarter. Miller Howard Investments Inc. NY raised its holdings in shares of Public Service Enterprise Group by 123.8% in the fourth quarter. Miller Howard Investments Inc. NY now owns 77,776 shares of the utilities provider’s stock valued at $4,756,000 after purchasing an additional 43,025 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $42,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Public Service Enterprise Group by 4.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock valued at $25,397,000 after purchasing an additional 17,838 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the transaction, the chief executive officer now directly owns 152,347 shares in the company, valued at approximately $10,111,270.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares in the company, valued at $1,997,409.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the sale, the chief executive officer now owns 152,347 shares in the company, valued at approximately $10,111,270.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,948 shares of company stock worth $510,300. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Trading Down 0.9 %

Shares of NYSE:PEG opened at $65.87 on Friday. The stock has a 50 day moving average of $63.19 and a 200 day moving average of $61.66. The company has a market cap of $32.84 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 2.88 and a beta of 0.58. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $67.51.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The firm’s revenue was down 17.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 EPS. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were given a dividend of $0.60 per share. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date was Thursday, March 7th. Public Service Enterprise Group’s dividend payout ratio is currently 46.78%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PEG. Bank of America increased their price target on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Barclays increased their price target on shares of Public Service Enterprise Group from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. Evercore ISI increased their price target on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Morgan Stanley restated an “overweight” rating and set a $70.00 price target (up previously from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Finally, BMO Capital Markets cut their target price on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $67.33.

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.