Elevated Capital Advisors LLC Lowers Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Elevated Capital Advisors LLC cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,281 shares of the utilities provider’s stock after selling 389 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Public Service Enterprise Group were worth $953,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter worth about $203,000. LPL Financial LLC increased its holdings in Public Service Enterprise Group by 11.4% in the 2nd quarter. LPL Financial LLC now owns 502,446 shares of the utilities provider’s stock valued at $37,030,000 after purchasing an additional 51,478 shares in the last quarter. HBK Sorce Advisory LLC raised its position in Public Service Enterprise Group by 4.3% in the second quarter. HBK Sorce Advisory LLC now owns 9,851 shares of the utilities provider’s stock valued at $726,000 after purchasing an additional 406 shares during the period. Thoroughbred Financial Services LLC acquired a new position in shares of Public Service Enterprise Group during the second quarter worth about $207,000. Finally, Wealthspire Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $298,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PEG shares. UBS Group upped their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. BMO Capital Markets raised their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. 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 research note on Wednesday, October 16th. Finally, Barclays dropped their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.17.

Public Service Enterprise Group Stock Performance

Shares of PEG stock traded down $0.09 on Monday, hitting $84.14. 1,984,238 shares of the stock traded hands, compared to its average volume of 1,890,286. The company has a market capitalization of $41.92 billion, a PE ratio of 20.67, a PEG ratio of 3.18 and a beta of 0.65. The company’s fifty day moving average is $87.44 and its 200 day moving average is $84.05. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the prior year, the company earned $0.85 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts predict 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a $0.60 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.85%. Public Service Enterprise Group’s dividend payout ratio is 58.97%.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the sale, the chief executive officer now owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. This trade represents a 0.95 % 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 three months. 0.57% of the stock is owned by corporate insiders.

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.