Sanctuary Advisors LLC Cuts Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Sanctuary Advisors LLC reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 93,576 shares of the utilities provider’s stock after selling 4,848 shares during the quarter. Sanctuary Advisors LLC’s holdings in Public Service Enterprise Group were worth $8,646,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PEG. Family Firm Inc. bought a new position in shares of Public Service Enterprise Group in the second quarter valued at approximately $33,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group in the second quarter worth $35,000. Ashton Thomas Securities LLC purchased a new position in Public Service Enterprise Group in the third quarter worth $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group in the 3rd quarter valued at $48,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at $58,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Trading Up 1.0 %

NYSE:PEG opened at $86.81 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $95.22. The stock’s fifty day moving average price is $89.21 and its two-hundred day moving average price is $82.40. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The company has a market cap of $43.25 billion, a P/E ratio of 21.33, a P/E/G ratio of 3.14 and a beta of 0.62.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 EPS. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.76%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Insider Buying and Selling

In other news, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares in the company, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,798 shares of company stock valued at $1,595,921. Company insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the topic of a number of research analyst reports. 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. Bank of America boosted their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Evercore ISI raised 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. BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company increased their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.17.

About Public Service Enterprise Group

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.