Public Service Enterprise Group Incorporated (NYSE:PEG) Stake Cut by Hamlin Capital Management LLC

Hamlin Capital Management LLC lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,412,217 shares of the utilities provider’s stock after selling 15,119 shares during the quarter. Public Service Enterprise Group makes up about 5.0% of Hamlin Capital Management LLC’s holdings, making the stock its 2nd biggest position. Hamlin Capital Management LLC’s holdings in Public Service Enterprise Group were worth $203,808,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in Public Service Enterprise Group in the 3rd quarter valued at approximately $35,000. Northwest Investment Counselors LLC purchased a new stake in Public Service Enterprise Group in the 3rd quarter valued at approximately $48,000. Legacy Investment Solutions LLC purchased a new stake in Public Service Enterprise Group in the 3rd quarter valued at approximately $59,000. Fortitude Family Office LLC lifted its stake in shares of Public Service Enterprise Group by 325.0% during the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 611 shares during the period. Finally, Kimelman & Baird LLC acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth $66,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $88.20 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The business has a 50 day moving average of $87.70 and a two-hundred day moving average of $84.51. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $95.22. The company has a market cap of $43.94 billion, a P/E ratio of 21.67, a PEG ratio of 2.94 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results 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 company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. Public Service Enterprise Group’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.72%. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The transaction 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 on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the transaction, the chief executive officer now directly owns 144,212 shares in the company, valued at $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 three months, insiders sold 8,234 shares of company stock worth $722,037. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

PEG has been the topic of several analyst reports. Evercore ISI raised their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Scotiabank raised their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. BMO Capital Markets increased their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Finally, Barclays cut their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.17.

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.