Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Bradley Foster & Sargent Inc. CT

Bradley Foster & Sargent Inc. CT decreased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 8,001 shares of the utilities provider’s stock after selling 121 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Public Service Enterprise Group were worth $676,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEG. Foundations Investment Advisors LLC raised its holdings in Public Service Enterprise Group by 27.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock worth $7,403,000 after purchasing an additional 18,627 shares in the last quarter. DRW Securities LLC acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $8,244,000. Cullen Investment Group LTD. raised its stake in shares of Public Service Enterprise Group by 65.3% in the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after buying an additional 10,610 shares in the last quarter. Arvest Bank Trust Division acquired a new stake in shares of Public Service Enterprise Group in the third quarter valued at $2,860,000. Finally, Parsons Capital Management Inc. RI bought a new position in Public Service Enterprise Group during the fourth quarter valued at about $2,565,000. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Monday, February 3rd. The stock was 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 of the company’s stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PEG. UBS Group boosted their price target on shares of 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. Scotiabank lifted their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Finally, Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Five investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.83.

Public Service Enterprise Group Trading Down 1.0 %

NYSE PEG opened at $83.82 on Friday. The firm’s 50 day moving average price is $84.99 and its two-hundred day moving average price is $85.94. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a twelve month low of $59.29 and a twelve month high of $95.22. The stock has a market cap of $41.76 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The firm also recently declared 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 annualized dividend and a yield of 3.01%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s payout ratio is presently 61.92%.

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.