Sanctuary Advisors LLC Sells 16,324 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Sanctuary Advisors LLC reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 17.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,252 shares of the utilities provider’s stock after selling 16,324 shares during the period. Sanctuary Advisors LLC’s holdings in Public Service Enterprise Group were worth $6,476,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Creative Planning grew its stake in shares of Public Service Enterprise Group by 5.2% during the 3rd quarter. Creative Planning now owns 95,695 shares of the utilities provider’s stock worth $8,537,000 after acquiring an additional 4,710 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Public Service Enterprise Group by 9.3% in the third quarter. Whittier Trust Co. now owns 4,705 shares of the utilities provider’s stock worth $420,000 after purchasing an additional 402 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in Public Service Enterprise Group by 14.5% during the third quarter. Foundations Investment Advisors LLC now owns 68,994 shares of the utilities provider’s stock worth $6,155,000 after purchasing an additional 8,745 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Public Service Enterprise Group by 3.0% in the third quarter. Sequoia Financial Advisors LLC now owns 19,846 shares of the utilities provider’s stock valued at $1,770,000 after purchasing an additional 575 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Public Service Enterprise Group by 3.9% in the 3rd quarter. Signaturefd LLC now owns 7,292 shares of the utilities provider’s stock valued at $650,000 after buying an additional 273 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

Public Service Enterprise Group Trading Up 1.0 %

Shares of NYSE PEG opened at $85.77 on Thursday. The stock has a market cap of $42.73 billion, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The firm has a 50 day moving average price of $85.07 and a two-hundred day moving average price of $85.85. 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 52-week low of $59.29 and a 52-week high of $95.22.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is 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.