Massachusetts Wealth Management Has $431,000 Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Massachusetts Wealth Management cut its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,100 shares of the utilities provider’s stock after selling 150 shares during the quarter. Massachusetts Wealth Management’s holdings in Public Service Enterprise Group were worth $431,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PEG. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group in the 3rd quarter worth about $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group during the third quarter worth about $48,000. Financial Life Planners acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $56,000. Brown Lisle Cummings Inc. acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $57,000. Finally, Legacy Investment Solutions LLC bought a new position in Public Service Enterprise Group in the 3rd quarter valued at approximately $59,000. 73.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Thursday, January 2nd. The stock was 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 of the company’s stock, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 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. Over the last 90 days, insiders have sold 9,612 shares of company stock worth $836,549. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PEG shares. Wells Fargo & Company boosted their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. BMO Capital Markets increased their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. UBS Group raised their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, Evercore ISI lifted their price objective 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. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $88.83.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $83.43 on Wednesday. Public Service Enterprise Group Incorporated has a one year low of $57.24 and a one year high of $95.22. The company has a market cap of $41.56 billion, a PE ratio of 20.50, a P/E/G ratio of 2.67 and a beta of 0.64. The stock has a 50-day moving average of $86.56 and a 200-day moving average of $85.37. 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 released its quarterly earnings data 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 return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.60 per share. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.88%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Public Service Enterprise Group Company 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.