Hantz Financial Services Inc. Sells 2,190 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Hantz Financial Services Inc. trimmed its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,202 shares of the utilities provider’s stock after selling 2,190 shares during the period. Hantz Financial Services Inc.’s holdings in Public Service Enterprise Group were worth $4,833,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter worth $35,000. Northwest Investment Counselors LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter worth $48,000. Legacy Investment Solutions LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter worth $59,000. Fortitude Family Office LLC raised its holdings in shares of Public Service Enterprise Group by 325.0% during the third quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock worth $71,000 after acquiring an additional 611 shares during the period. Finally, GHP Investment Advisors Inc. raised its holdings in shares of Public Service Enterprise Group by 30.2% during the third quarter. GHP Investment Advisors Inc. now owns 1,107 shares of the utilities provider’s stock worth $99,000 after acquiring an additional 257 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Up 0.2 %

Public Service Enterprise Group stock opened at $81.87 on Thursday. The firm has a market capitalization of $40.79 billion, a PE ratio of 20.12, a P/E/G ratio of 2.82 and a beta of 0.65. The company’s 50-day moving average is $87.49 and its 200-day moving average is $85.07. Public Service Enterprise Group Incorporated has a fifty-two week low of $57.24 and a fifty-two week high of $95.22. 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 announced its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 EPS. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is 58.97%.

Wall Street Analyst Weigh In

PEG has been the topic of a number of research analyst reports. Scotiabank raised 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 report on Thursday, December 12th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $88.00 to $84.00 in a research note on Monday. BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Evercore ISI lifted their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company lifted their price target 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. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.83.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the sale, the senior vice president now owns 25,829 shares of the company’s stock, valued at $2,271,660.55. The trade was a 18.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,234 shares of company stock valued at $722,037. Company insiders own 0.57% of the company’s stock.

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.