Leisure Capital Management Sells 130 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Leisure Capital Management reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.9% in the fourth quarter, Holdings Channel reports. The firm owned 14,745 shares of the utilities provider’s stock after selling 130 shares during the period. Leisure Capital Management’s holdings in Public Service Enterprise Group were worth $1,246,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new position in Public Service Enterprise Group in the 3rd quarter worth about $35,000. Northwest Investment Counselors LLC bought a new position in shares of Public Service Enterprise Group in the third quarter worth approximately $48,000. Legacy Investment Solutions LLC purchased a new stake in Public Service Enterprise Group in the third quarter valued at approximately $59,000. Fortitude Family Office LLC grew its stake in Public Service Enterprise Group by 325.0% in the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock worth $71,000 after buying an additional 611 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its position in shares of Public Service Enterprise Group by 30.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 1,107 shares of the utilities provider’s stock valued at $99,000 after buying an additional 257 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. BMO Capital Markets upped their target price on shares of 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. Scotiabank raised their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. UBS Group upped their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Evercore ISI lifted their price target on shares of 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. Finally, Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $88.00 to $84.00 in a research note on Monday, January 27th. 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 MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average target price of $88.83.

Public Service Enterprise Group Price Performance

PEG stock opened at $83.57 on Monday. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The firm’s 50-day moving average price is $86.97 and its two-hundred day moving average price is $85.24. The stock has a market capitalization of $41.64 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 2.67 and a beta of 0.64. Public Service Enterprise Group Incorporated has a 12-month low of $57.24 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly 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 business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the company posted $0.85 EPS. Public Service Enterprise Group’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.87%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 58.97%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,234 shares of company stock valued at $722,037. 0.18% of the stock is currently owned by company insiders.

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.