Neumann Capital Management LLC Sells 494 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Neumann Capital Management LLC cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 33,170 shares of the utilities provider’s stock after selling 494 shares during the quarter. Public Service Enterprise Group accounts for about 0.9% of Neumann Capital Management LLC’s portfolio, making the stock its 26th biggest holding. Neumann Capital Management LLC’s holdings in Public Service Enterprise Group were worth $2,803,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in shares of Public Service Enterprise Group in the third quarter valued at about $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $48,000. Legacy Investment Solutions LLC acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $59,000. Fortitude Family Office LLC increased its position in shares of Public Service Enterprise Group by 325.0% during the third quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 611 shares during the period. Finally, Kimelman & Baird LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter valued at $66,000. 73.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PEG has been the topic of a number of recent research reports. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. UBS Group increased 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 research report on Wednesday, October 30th. BMO Capital Markets lifted their price objective on 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. Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Barclays reduced their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.17.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $86,126.04. Following the completion of the sale, the chief operating officer now owns 70,011 shares in the company, valued at $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 three months, insiders have sold 8,234 shares of company stock worth $722,037. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG stock 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. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $95.22. The business’s fifty day moving average is $87.80 and its 200-day moving average is $84.75. The company has a market cap of $43.95 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 2.82 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results 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 firm 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 company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 earnings per share. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.72%. 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 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.