Folger Nolan Fleming Douglas Capital Management Inc. Reduces Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Folger Nolan Fleming Douglas Capital Management Inc. reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,100 shares of the utilities provider’s stock after selling 550 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Public Service Enterprise Group were worth $346,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Heritage Wealth Management Inc. acquired a new stake in Public Service Enterprise Group during the second quarter valued at $422,000. DRW Securities LLC acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at about $8,244,000. Arvest Bank Trust Division purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at about $2,860,000. Cerity Partners LLC raised its holdings in Public Service Enterprise Group by 36.1% in the 3rd quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock worth $8,575,000 after purchasing an additional 25,503 shares during the period. Finally, Cullen Investment Group LTD. boosted its position in Public Service Enterprise Group by 65.3% during the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after purchasing an additional 10,610 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,234 shares of company stock worth $722,037 over the last three months. Company insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Stock Down 0.3 %

Shares of PEG opened at $88.20 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The firm has a market cap of $43.94 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 2.81 and a beta of 0.65. The company’s 50-day moving average price is $87.65 and its 200 day moving average price is $84.26. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the firm earned $0.85 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company 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 2.72%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PEG. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Barclays reduced their price objective on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Evercore ISI lifted their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Company lifted their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Four 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. According to MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus price target of $89.17.

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.