WealthShield Partners LLC Sells 1,446 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

WealthShield Partners LLC lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.6% during the fourth quarter, HoldingsChannel reports. The firm owned 24,458 shares of the utilities provider’s stock after selling 1,446 shares during the quarter. WealthShield Partners LLC’s holdings in Public Service Enterprise Group were worth $2,066,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Foundations Investment Advisors LLC lifted its stake in Public Service Enterprise Group by 27.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after acquiring an additional 18,627 shares during the last quarter. DRW Securities LLC bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at about $8,244,000. Cullen Investment Group LTD. lifted its stake in Public Service Enterprise Group by 65.3% in the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after purchasing an additional 10,610 shares during the last quarter. Arvest Bank Trust Division bought a new position in Public Service Enterprise Group during the third quarter worth about $2,860,000. Finally, Parsons Capital Management Inc. RI acquired a new position in Public Service Enterprise Group during the fourth quarter worth approximately $2,565,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $83.82 on Monday. The company’s 50 day simple moving average is $84.99 and its 200 day simple moving average is $85.99. The stock has a market capitalization of $41.76 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 1 year low of $59.29 and a 1 year 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. Investors 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 3.01%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 61.92%.

Analysts Set New Price Targets

A number of analysts have recently issued reports 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 research report on Thursday, December 12th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. UBS Group upped their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $88.83.

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.