John G Ullman & Associates Inc. Reduces Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

John G Ullman & Associates Inc. cut its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,383 shares of the utilities provider’s stock after selling 1,350 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Public Service Enterprise Group were worth $3,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in Public Service Enterprise Group during the 3rd quarter valued at about $35,000. Wingate Wealth Advisors Inc. purchased a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $35,000. Stonebridge Financial Group LLC purchased a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $54,000. Financial Life Planners purchased a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $56,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Public Service Enterprise Group in the 3rd quarter worth approximately $59,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. BMO Capital Markets increased their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday. Scotiabank increased their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Guggenheim reissued a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday. Wells Fargo & Company decreased their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Up 0.5 %

PEG stock opened at $81.09 on Friday. Public Service Enterprise Group Incorporated has a twelve month low of $61.48 and a twelve month high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a market cap of $40.40 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. The business has a 50 day moving average of $84.78 and a 200 day moving average of $86.04.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the company earned $0.54 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.63 dividend. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.11%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 71.19%.

Public Service Enterprise Group Company 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.