Pinnacle Wealth Planning Services Inc. Lowers Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Pinnacle Wealth Planning Services Inc. reduced its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 41.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,689 shares of the utilities provider’s stock after selling 2,656 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Public Service Enterprise Group were worth $312,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Center for Financial Planning Inc. lifted its holdings in shares of Public Service Enterprise Group by 3.0% in the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after buying an additional 120 shares during the period. Spire Wealth Management lifted its holdings in shares of Public Service Enterprise Group by 2.4% in the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock valued at $440,000 after buying an additional 121 shares during the period. First Commonwealth Financial Corp PA lifted its holdings in shares of Public Service Enterprise Group by 1.3% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock valued at $842,000 after buying an additional 123 shares during the period. United Asset Strategies Inc. raised its holdings in Public Service Enterprise Group by 2.6% during the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock worth $416,000 after purchasing an additional 127 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in Public Service Enterprise Group by 0.4% during the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock worth $2,990,000 after purchasing an additional 139 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $79.10 on Friday. The company has a market cap of $39.44 billion, a P/E ratio of 19.43, a P/E/G ratio of 2.78 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 52 week low of $63.31 and a 52 week high of $95.22. The business has a fifty day simple moving average of $84.27 and a 200-day simple moving average of $85.99.

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

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $0.63 dividend. 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 3.19%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is currently 71.19%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Scotiabank lifted 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. Wells Fargo & Company reduced their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. BMO Capital Markets lifted 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, February 26th. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Guggenheim reaffirmed a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.83.

About Public Service Enterprise Group

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.