Valley Wealth Managers Inc. Has $3.90 Million Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Valley Wealth Managers Inc. lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 63,712 shares of the utilities provider’s stock after selling 1,559 shares during the period. Valley Wealth Managers Inc.’s holdings in Public Service Enterprise Group were worth $3,896,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Operose Advisors LLC raised its position in Public Service Enterprise Group by 435.0% in the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after buying an additional 435 shares during the last quarter. Addison Advisors LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $31,000. CNB Bank acquired a new position in Public Service Enterprise Group during the third quarter worth $34,000. Bruce G. Allen Investments LLC bought a new stake in Public Service Enterprise Group during the fourth quarter worth $36,000. Finally, Anchor Investment Management LLC acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

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

Public Service Enterprise Group Price Performance

NYSE:PEG traded up $0.82 during trading hours on Monday, reaching $68.64. 2,930,324 shares of the company were exchanged, compared to its average volume of 2,844,611. The company has a market capitalization of $34.22 billion, a P/E ratio of 13.38, a P/E/G ratio of 2.97 and a beta of 0.58. 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 business has a 50 day moving average of $64.82 and a 200 day moving average of $62.37. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $68.87.

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

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given 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 dividend yield of 3.50%. Public Service Enterprise Group’s dividend payout ratio is 46.78%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. Insiders have sold 7,948 shares of company stock valued at $511,814 over the last three months. 0.18% of the stock is owned by 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.