Hilltop National Bank Sells 793 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Hilltop National Bank decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,217 shares of the utilities provider’s stock after selling 793 shares during the quarter. Hilltop National Bank’s holdings in Public Service Enterprise Group were worth $1,201,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Heritage Wealth Management Inc. bought a new position in Public Service Enterprise Group in the second quarter valued at about $422,000. DRW Securities LLC bought a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at about $8,244,000. Arvest Bank Trust Division acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $2,860,000. Cerity Partners LLC raised its stake in shares of Public Service Enterprise Group by 36.1% during the third quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock worth $8,575,000 after buying an additional 25,503 shares during the last quarter. Finally, Meridian Wealth Management LLC acquired a new position in Public Service Enterprise Group in the third quarter valued at approximately $2,965,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group 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 directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s 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 transaction, the chief executive officer now directly owns 144,212 shares in the company, valued at $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,234 shares of company stock valued at $722,037. 0.57% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented 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 company a “market perform” rating in a research report on Monday, October 21st. Scotiabank increased their target price 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. Morgan Stanley upped their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Evercore ISI lifted their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company increased their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $89.17.

Public Service Enterprise Group Stock Down 1.2 %

Public Service Enterprise Group stock traded down $1.01 during mid-day trading on Friday, reaching $84.27. The company’s stock had a trading volume of 500,196 shares, compared to its average volume of 1,691,863. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $95.22. The business’s 50 day simple moving average is $87.50 and its 200 day simple moving average is $83.84. The company has a market capitalization of $41.99 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 3.18 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (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 for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. Public Service Enterprise Group’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, research 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 disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is presently 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.