John G Ullman & Associates Inc. Sells 475 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

John G Ullman & Associates Inc. trimmed its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,394 shares of the utilities provider’s stock after selling 475 shares during the period. John G Ullman & Associates Inc.’s holdings in Public Service Enterprise Group were worth $2,531,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Rockline Wealth Management LLC acquired a new position in Public Service Enterprise Group in the fourth quarter valued at about $1,185,000. Allspring Global Investments Holdings LLC raised its stake in shares of Public Service Enterprise Group by 4.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock worth $25,397,000 after acquiring an additional 17,838 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Public Service Enterprise Group by 5,613.8% in the fourth quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock worth $10,545,000 after acquiring an additional 169,425 shares during the last quarter. PATRIZIA Pty Ltd bought a new stake in shares of Public Service Enterprise Group during the fourth quarter worth approximately $5,158,000. Finally, Arvest Investments Inc. acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $2,108,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 1.0 %

PEG traded up $0.64 during trading on Friday, reaching $65.74. 2,954,827 shares of the company’s stock were exchanged, compared to its average volume of 2,835,875. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $67.51. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $32.78 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 2.84 and a beta of 0.58. The firm has a fifty day moving average price of $63.69 and a two-hundred day moving average price of $61.84.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the previous year, the company earned $0.64 EPS. Public Service Enterprise Group’s quarterly revenue was down 17.0% compared to the same quarter last year. As a group, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.65%. Public Service Enterprise Group’s payout ratio is 46.78%.

Analysts Set New Price Targets

PEG has been the subject of several recent research reports. TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. Bank of America upped their price target on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Wells Fargo & Company upped their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $70.00 price target (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Finally, Barclays upped their price target on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.58.

Insiders Place Their Bets

In related news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the transaction, the senior vice president now owns 31,122 shares in the company, valued at $1,997,409.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the transaction, the chief executive officer now owns 152,347 shares in the company, valued at approximately $10,111,270.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,948 shares of company stock worth $510,300. 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.