Premier Path Wealth Partners LLC Decreases Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Premier Path Wealth Partners LLC lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,527 shares of the utilities provider’s stock after selling 357 shares during the period. Premier Path Wealth Partners LLC’s holdings in Public Service Enterprise Group were worth $1,196,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Ninepoint Partners LP boosted its holdings in Public Service Enterprise Group by 14.1% during the fourth quarter. Ninepoint Partners LP now owns 14,786 shares of the utilities provider’s stock worth $1,249,000 after buying an additional 1,830 shares in the last quarter. Welch & Forbes LLC lifted its holdings in shares of Public Service Enterprise Group by 171.6% in the fourth quarter. Welch & Forbes LLC now owns 11,170 shares of the utilities provider’s stock valued at $944,000 after purchasing an additional 7,058 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Public Service Enterprise Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider’s stock valued at $5,134,882,000 after purchasing an additional 492,517 shares in the last quarter. Grantvest Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $215,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Public Service Enterprise Group by 15.8% in the first quarter. SG Americas Securities LLC now owns 11,848 shares of the utilities provider’s stock valued at $975,000 after purchasing an additional 1,618 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the transaction, the chief executive officer now owns 221,670 shares of the company’s stock, valued at approximately $18,372,009.60. This represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $81.99 on Friday. Public Service Enterprise Group Incorporated has a one year low of $72.82 and a one year high of $95.22. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. The company has a 50 day moving average price of $80.35 and a 200 day moving average price of $82.66. The firm has a market capitalization of $40.92 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 2.94 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the business posted $1.31 earnings per share. Public Service Enterprise Group’s revenue for the quarter was up 16.7% compared to the same quarter last year. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.07%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 68.85%.

Analyst Ratings Changes

Several brokerages have issued reports on PEG. 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 target on the stock. in a report on Wednesday, March 19th. Guggenheim reduced their price target on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. BMO Capital Markets reduced their price target on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating on the stock in a report on Thursday, April 10th. Barclays reduced their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $89.54.

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.