Capital City Trust Co. FL Sells 266 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Capital City Trust Co. FL decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 46,955 shares of the utilities provider’s stock after selling 266 shares during the period. Capital City Trust Co. FL’s holdings in Public Service Enterprise Group were worth $3,967,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PEG. Jennison Associates LLC grew its holdings in shares of Public Service Enterprise Group by 125.3% in the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock worth $285,982,000 after purchasing an additional 1,882,667 shares during the last quarter. FMR LLC boosted its holdings in Public Service Enterprise Group by 19.4% in the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after acquiring an additional 877,345 shares in the last quarter. National Bank of Canada FI boosted its holdings in Public Service Enterprise Group by 376.3% in the third quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider’s stock valued at $72,321,000 after acquiring an additional 640,485 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Public Service Enterprise Group by 103.6% in the fourth quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider’s stock valued at $80,313,000 after acquiring an additional 483,795 shares in the last quarter. Finally, Verition Fund Management LLC boosted its holdings in Public Service Enterprise Group by 179.5% in the third quarter. Verition Fund Management LLC now owns 706,884 shares of the utilities provider’s stock valued at $63,061,000 after acquiring an additional 453,985 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the sale, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. Scotiabank lifted their price target 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. UBS Group lifted their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.83.

Public Service Enterprise Group Price Performance

PEG opened at $83.82 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a market capitalization of $41.76 billion, a P/E ratio of 20.59, a P/E/G ratio of 2.78 and a beta of 0.64. The company’s 50-day simple moving average is $84.99 and its two-hundred day simple moving average is $85.89. Public Service Enterprise Group Incorporated has a 52-week low of $59.29 and a 52-week high of $95.22.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 3.01%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

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.