Peterson Wealth Services Sells 9,257 Shares of Public Service Enterprise Group Incorporated $PEG

Peterson Wealth Services trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 86.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,448 shares of the utilities provider’s stock after selling 9,257 shares during the quarter. Peterson Wealth Services’ holdings in Public Service Enterprise Group were worth $121,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $25,000. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $25,000. Keener Financial Planning LLC purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $27,000. Cedar Mountain Advisors LLC purchased a new stake in Public Service Enterprise Group during the third quarter worth $27,000. Finally, GoalVest Advisory LLC grew its stake in Public Service Enterprise Group by 166.7% in the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the transaction, the senior vice president directly owned 26,134 shares of the company’s stock, valued at $2,151,612.22. This trade represents a 15.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Up 1.5%

Shares of PEG stock opened at $81.53 on Wednesday. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $91.25. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93. The stock’s fifty day moving average is $80.10 and its two-hundred day moving average is $82.23. The firm has a market capitalization of $40.69 billion, a P/E ratio of 19.60, a PEG ratio of 2.59 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 earnings per share. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is currently 60.58%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. UBS Group decreased their price objective on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a report on Wednesday, December 17th. TD Cowen raised their price target on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price on the stock in a report on Wednesday, January 7th. BMO Capital Markets decreased their target price on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research note on Tuesday, November 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.96.

About Public Service Enterprise Group

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.