NBT Bank N A NY Sells 135 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

NBT Bank N A NY cut its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,666 shares of the utilities provider’s stock after selling 135 shares during the quarter. NBT Bank N A NY’s holdings in Public Service Enterprise Group were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PEG. Axxcess Wealth Management LLC bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at approximately $634,000. Crossmark Global Holdings Inc. grew its holdings in shares of Public Service Enterprise Group by 0.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 26,771 shares of the utilities provider’s stock valued at $2,388,000 after purchasing an additional 164 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at approximately $35,000. WCM Investment Management LLC grew its holdings in shares of Public Service Enterprise Group by 133.1% during the 3rd quarter. WCM Investment Management LLC now owns 13,426 shares of the utilities provider’s stock valued at $1,185,000 after purchasing an additional 7,667 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its holdings in shares of Public Service Enterprise Group by 9.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 14,713 shares of the utilities provider’s stock valued at $1,313,000 after purchasing an additional 1,309 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

PEG has been the topic of several research reports. Bank of America decreased their price target on shares of 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. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Guggenheim reiterated a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. BMO Capital Markets lifted their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company cut their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average target price of $89.83.

Public Service Enterprise Group Stock Down 0.0 %

Shares of NYSE PEG opened at $78.58 on Wednesday. The company has a market capitalization of $39.17 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 52-week low of $63.31 and a 52-week high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company’s 50 day moving average price is $84.04 and its 200-day moving average price is $86.03.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating 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 company 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 EPS. Public Service Enterprise Group’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is presently 71.19%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares in the company, valued at $12,245,040.92. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

Public Service Enterprise Group 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.