Corient Private Wealth LLC Sells 73,132 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Corient Private Wealth LLC decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 29.4% during the fourth quarter, Holdings Channel reports. The fund owned 175,278 shares of the utilities provider’s stock after selling 73,132 shares during the period. Corient Private Wealth LLC’s holdings in Public Service Enterprise Group were worth $14,809,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Ninepoint Partners LP lifted its holdings in Public Service Enterprise Group by 14.1% in the fourth quarter. Ninepoint Partners LP now owns 14,786 shares of the utilities provider’s stock valued at $1,249,000 after acquiring an additional 1,830 shares during the period. one8zero8 LLC bought a new position in Public Service Enterprise Group in the fourth quarter valued at about $262,000. Natixis Advisors LLC increased its position in Public Service Enterprise Group by 5.2% in the fourth quarter. Natixis Advisors LLC now owns 218,849 shares of the utilities provider’s stock worth $18,491,000 after buying an additional 10,786 shares in the last quarter. Copperwynd Financial LLC increased its position in Public Service Enterprise Group by 1.4% in the fourth quarter. Copperwynd Financial LLC now owns 10,714 shares of the utilities provider’s stock worth $905,000 after buying an additional 145 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd increased its position in Public Service Enterprise Group by 157.1% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 5,400 shares of the utilities provider’s stock worth $456,000 after buying an additional 3,300 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PEG. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. BMO Capital Markets upped their price target on 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. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target for the company. in a research report on Wednesday. Finally, Guggenheim restated a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.27.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred 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 directly owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $83.21 on Thursday. The stock has a 50 day moving average of $83.57 and a 200 day moving average of $86.02. Public Service Enterprise Group Incorporated has a 12 month low of $63.54 and a 12 month high of $95.22. The firm has a market cap of $41.48 billion, a PE ratio of 20.44, a PEG ratio of 2.78 and a beta of 0.60. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

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

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.03%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 71.19%.

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.