Whittier Trust Co. of Nevada Inc. Sells 190 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Whittier Trust Co. of Nevada Inc. lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,609 shares of the utilities provider’s stock after selling 190 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Public Service Enterprise Group were worth $136,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEG. Raymond James Financial Inc. bought a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $376,209,000. Jennison Associates LLC grew its holdings 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 valued at $285,982,000 after purchasing an additional 1,882,667 shares during the last quarter. FMR LLC grew its holdings in Public Service Enterprise Group by 19.4% during the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after purchasing an additional 877,345 shares during the last quarter. National Bank of Canada FI grew its holdings in Public Service Enterprise Group by 376.3% during the third 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 last quarter. Finally, Van ECK Associates Corp grew its holdings in Public Service Enterprise Group by 103.6% during the fourth quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider’s stock valued at $80,313,000 after purchasing an additional 483,795 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 0.4 %

PEG opened at $83.00 on Monday. Public Service Enterprise Group Incorporated has a fifty-two week low of $64.03 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. The firm’s fifty day moving average price is $83.50 and its two-hundred day moving average price is $86.10. The company has a market capitalization of $41.38 billion, a P/E ratio of 20.39, a P/E/G ratio of 2.78 and a beta of 0.60.

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

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.04%. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Morgan Stanley increased their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday. Bank of America lowered their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Barclays downgraded shares of 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, LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective on the stock. in a research note on Wednesday, March 19th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.65.

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.