Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,018 shares of the utilities provider’s stock after selling 3,159 shares during the quarter. Fulton Bank N.A.’s holdings in Public Service Enterprise Group were worth $2,283,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Old Port Advisors lifted its holdings in shares of Public Service Enterprise Group by 0.5% during the third quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock worth $2,099,000 after purchasing an additional 113 shares during the period. Smallwood Wealth Investment Management LLC raised its position in Public Service Enterprise Group by 1.3% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock worth $827,000 after buying an additional 115 shares during the last quarter. First Commonwealth Financial Corp PA lifted its stake in shares of Public Service Enterprise Group by 1.3% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock worth $842,000 after acquiring an additional 123 shares during the period. Cigna Investments Inc. New boosted its holdings in shares of Public Service Enterprise Group by 2.5% in the third quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock valued at $451,000 after acquiring an additional 124 shares in the last quarter. Finally, Great Lakes Retirement Inc. increased its stake in shares of Public Service Enterprise Group by 0.4% during the third quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock worth $2,619,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated 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 directly owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,234 shares of company stock worth $722,037. 0.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PEG. Barclays lowered their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Morgan Stanley upped their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Evercore ISI raised their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. BMO Capital Markets upped their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company raised their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $89.17.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $85.27 on Thursday. 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 business’s fifty day moving average price is $87.59 and its two-hundred day moving average price is $83.83. The stock has a market cap of $42.48 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 3.18 and a beta of 0.65. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the company earned $0.85 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is 58.97%.

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.