Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,095 shares of the utilities provider’s stock after selling 351 shares during the period. Silver Oak Securities Incorporated’s holdings in Public Service Enterprise Group were worth $515,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group in the third quarter valued at approximately $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at $48,000. Financial Life Planners acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $56,000. Brown Lisle Cummings Inc. acquired a new stake in Public Service Enterprise Group during the fourth quarter valued at $57,000. Finally, Legacy Investment Solutions LLC purchased a new position in Public Service Enterprise Group in the third quarter valued at $59,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PEG. BMO Capital Markets increased 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 note on Monday, October 21st. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $88.00 to $84.00 in a research report on Monday, January 27th. 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 report on Wednesday, October 30th. Finally, Scotiabank increased their price objective on shares of 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. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $88.83.

Insiders Place Their Bets

In other 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 transaction of $518,905.00. Following the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, 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 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 valued at $836,549. Insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Stock Down 0.4 %

Shares of NYSE PEG opened at $83.61 on Friday. The stock has a market cap of $41.66 billion, a PE ratio of 20.54, a P/E/G ratio of 2.67 and a beta of 0.64. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12-month low of $57.40 and a 12-month high of $95.22. The company has a 50-day moving average of $86.15 and a 200 day moving average of $85.35.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.87%. Public Service Enterprise Group’s payout ratio is 58.97%.

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.