Community Bank N.A. Sells 2,259 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Community Bank N.A. decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,090 shares of the utilities provider’s stock after selling 2,259 shares during the quarter. Community Bank N.A.’s holdings in Public Service Enterprise Group were worth $4,469,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Operose Advisors LLC grew its stake in shares of Public Service Enterprise Group by 435.0% in the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 435 shares in the last quarter. CNB Bank bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth $34,000. Bruce G. Allen Investments LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $36,000. Anchor Investment Management LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $37,000. Finally, Blue Bell Private Wealth Management LLC grew its position in Public Service Enterprise Group by 39.0% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 695 shares of the utilities provider’s stock valued at $42,000 after buying an additional 195 shares during the period. Institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Barclays increased their price target on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. BMO Capital Markets reduced their price target on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a research report on Tuesday, February 27th. Guggenheim lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target for the company. in a research report on Monday, January 22nd. Finally, Scotiabank reduced their price target on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.15.

Public Service Enterprise Group Stock Performance

NYSE:PEG traded up $0.74 on Wednesday, reaching $67.23. 3,338,990 shares of the company’s stock were exchanged, compared to its average volume of 2,844,853. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. The firm has a market cap of $33.52 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 2.92 and a beta of 0.58. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $67.51. The stock has a fifty day simple moving average of $64.31 and a 200-day simple moving average of $62.18.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The company’s revenue for the quarter was down 17.0% on a year-over-year basis. As a group, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s payout ratio is 46.78%.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at $9,684,423. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at $9,684,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of the firm’s 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 completion of the sale, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,948 shares of company stock valued at $511,814. 0.18% of the stock is currently owned by corporate insiders.

About Public Service Enterprise Group

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.