Cerro Pacific Wealth Advisors LLC Reduces Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Cerro Pacific Wealth Advisors LLC lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,251 shares of the utilities provider’s stock after selling 466 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,093,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Heritage Wealth Management Inc. bought a new position in shares of Public Service Enterprise Group in the second quarter worth approximately $422,000. DRW Securities LLC bought a new position in Public Service Enterprise Group in the 3rd quarter worth $8,244,000. Cullen Investment Group LTD. increased its stake in Public Service Enterprise Group by 65.3% in the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after buying an additional 10,610 shares in the last quarter. Arvest Bank Trust Division bought a new stake in Public Service Enterprise Group during the third quarter valued at about $2,860,000. Finally, Cerity Partners LLC lifted its position in shares of Public Service Enterprise Group by 36.1% in the third quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock valued at $8,575,000 after acquiring an additional 25,503 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.0 %

Shares of PEG opened at $88.22 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The business has a fifty day moving average of $87.80 and a 200 day moving average of $84.75. The company has a market cap of $43.95 billion, a PE ratio of 21.67, a P/E/G ratio of 2.82 and a beta of 0.65. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $95.22.

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, topping the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business earned $0.85 EPS. On average, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a $0.60 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.72%. Public Service Enterprise Group’s payout ratio is 58.97%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PEG. BMO Capital Markets increased their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Wells Fargo & Company boosted their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Barclays cut their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Evercore ISI boosted their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.17.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction 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 sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, 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 three months, insiders sold 8,234 shares of company stock valued at $722,037. Insiders own 0.57% of the company’s stock.

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.