Fortis Group Advisors LLC Sells 130 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Fortis Group Advisors LLC cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,015 shares of the utilities provider’s stock after selling 130 shares during the quarter. Fortis Group Advisors LLC’s holdings in Public Service Enterprise Group were worth $931,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Jennison Associates LLC lifted its position in Public Service Enterprise Group by 125.3% during the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock worth $285,982,000 after acquiring an additional 1,882,667 shares during the last quarter. FMR LLC lifted its holdings in Public Service Enterprise Group by 19.4% during 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 during the last quarter. National Bank of Canada FI boosted its stake in Public Service Enterprise Group by 376.3% in the 3rd quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider’s stock valued at $72,321,000 after purchasing an additional 640,485 shares during the period. Van ECK Associates Corp grew its holdings in Public Service Enterprise Group by 103.6% in the 4th quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider’s stock valued at $80,313,000 after buying an additional 483,795 shares in the last quarter. Finally, Verition Fund Management LLC increased its position in Public Service Enterprise Group by 179.5% during the 3rd quarter. Verition Fund Management LLC now owns 706,884 shares of the utilities provider’s stock worth $63,061,000 after buying an additional 453,985 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. UBS Group raised their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Scotiabank boosted their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, BMO Capital Markets increased their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $88.83.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $83.85 on Tuesday. The company’s 50 day moving average price is $85.18 and its two-hundred day moving average price is $85.78. The firm has a market capitalization of $41.78 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.77 and a beta of 0.64. Public Service Enterprise Group Incorporated has a fifty-two week low of $58.96 and a fifty-two week high of $95.22. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.63 dividend. The ex-dividend date is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.01%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 58.97%.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.57% of the company’s stock.

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.