Raleigh Capital Management Inc. Sells 152 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Raleigh Capital Management Inc. decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,724 shares of the utilities provider’s stock after selling 152 shares during the period. Raleigh Capital Management Inc.’s holdings in Public Service Enterprise Group were worth $399,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Heritage Wealth Management Inc. bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $422,000. DRW Securities LLC purchased a new stake in Public Service Enterprise Group during the 3rd quarter valued at $8,244,000. Cullen Investment Group LTD. lifted its position in Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after buying an additional 10,610 shares during the last quarter. Arvest Bank Trust Division bought a new stake in Public Service Enterprise Group in the third quarter worth $2,860,000. Finally, Cerity Partners LLC boosted its stake in Public Service Enterprise Group by 36.1% during the third quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock worth $8,575,000 after buying an additional 25,503 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG stock opened at $88.22 on Thursday. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $95.22. The business has a 50-day moving average price of $87.80 and a 200 day moving average price of $84.75. The company has a market capitalization of $43.96 billion, a P/E ratio of 21.68, a PEG ratio of 2.89 and a beta of 0.65. 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 (NYSE:PEG) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the business posted $0.85 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.72%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays lowered their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Scotiabank raised their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. UBS Group upped their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Evercore ISI raised their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.17.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the transaction, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,234 shares of company stock worth $722,037. 0.57% of the stock is currently owned by company insiders.

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.