B. Riley Wealth Advisors Inc. Sells 3,167 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

B. Riley Wealth Advisors Inc. decreased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 12.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,884 shares of the utilities provider's stock after selling 3,167 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Public Service Enterprise Group were worth $1,849,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Transce3nd LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth $25,000. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group in the fourth quarter valued at about $25,000. Wingate Wealth Advisors Inc. bought a new position in Public Service Enterprise Group in the fourth quarter valued at about $35,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group in the fourth quarter worth about $39,000. Finally, Optiver Holding B.V. bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $50,000. Institutional investors own 73.34% of the company's stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total transaction of $109,220.28. Following the sale, the chief executive officer now directly owns 221,093 shares of the company's stock, valued at $17,523,831.18. This represents a 0.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PEG shares. Guggenheim dropped their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Evercore ISI dropped their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Bank of America cut their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. BMO Capital Markets decreased their target price on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a report on Thursday, April 10th. Finally, Wells Fargo & Company cut their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of "Hold" and an average target price of $89.63.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded up $1.44 during mid-day trading on Thursday, reaching $79.53. The company's stock had a trading volume of 2,543,967 shares, compared to its average volume of 2,750,360. The stock has a fifty day moving average of $80.38 and a two-hundred day moving average of $83.77. The firm has a market capitalization of $39.68 billion, a PE ratio of 19.54, a P/E/G ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 52 week low of $71.89 and a 52 week high of $95.22. 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 (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.43. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company's revenue was up 16.7% on a year-over-year basis. During the same period last year, the firm posted $1.31 EPS. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's payout ratio is presently 68.85%.

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.