Public Service Enterprise Group Incorporated (NYSE:PEG) Holdings Trimmed by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 46.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,296 shares of the utilities provider’s stock after selling 4,598 shares during the period. Ironwood Investment Counsel LLC’s holdings in Public Service Enterprise Group were worth $447,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. purchased a new position in Public Service Enterprise Group during the 4th quarter worth approximately $35,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group during the 4th quarter worth approximately $39,000. Stonebridge Financial Group LLC purchased a new position in Public Service Enterprise Group during the 4th quarter worth approximately $54,000. Financial Life Planners purchased a new position in Public Service Enterprise Group during the 4th quarter worth approximately $56,000. Finally, Legacy Investment Solutions LLC purchased a new position in Public Service Enterprise Group during the 3rd quarter worth approximately $59,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Stock Up 2.3 %

Public Service Enterprise Group stock opened at $81.59 on Friday. The firm has a market cap of $40.68 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 2.78 and a beta of 0.60. 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 Incorporated has a fifty-two week low of $63.31 and a fifty-two week high of $95.22. The firm has a fifty day moving average price of $83.74 and a two-hundred day moving average price of $85.95.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. Public Service Enterprise Group’s payout ratio is presently 71.19%.

Analyst Ratings Changes

PEG has been the subject of a number of research reports. BMO Capital Markets lifted their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Scotiabank lifted their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Finally, Guggenheim reissued a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Six equities research 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 company’s stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price 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.