Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 12.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. 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 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Transce3nd LLC purchased a new stake in Public Service Enterprise Group in the fourth quarter worth $25,000. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group in the fourth quarter worth $25,000. Wingate Wealth Advisors Inc. purchased a new stake in Public Service Enterprise Group in the fourth quarter worth $35,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group in the fourth quarter worth $39,000. Finally, Optiver Holding B.V. purchased a new stake in Public Service Enterprise Group in the fourth quarter worth $50,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the transaction, the chief executive officer now owns 221,670 shares of the company's stock, valued at $18,372,009.60. This represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Up 1.8%

NYSE:PEG traded up $1.43 during mid-day trading on Friday, hitting $80.98. 12,247,488 shares of the company's stock traded hands, compared to its average volume of 2,776,646. The company has a fifty day moving average of $80.29 and a 200 day moving average of $83.65. Public Service Enterprise Group Incorporated has a twelve month low of $71.89 and a twelve month high of $95.22. The company has a market capitalization of $40.41 billion, a P/E ratio of 19.90, a P/E/G ratio of 2.78 and a beta of 0.48. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting the consensus estimate of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the business earned $1.31 EPS. The company's quarterly revenue was up 16.7% compared to the same quarter last year. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.63 dividend. The ex-dividend date is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.11%. Public Service Enterprise Group's payout ratio is 68.85%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PEG shares. BMO Capital Markets cut 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 research note on Thursday, April 10th. Morgan Stanley cut their target price on Public Service Enterprise Group from $102.00 to $101.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Guggenheim cut their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company cut their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price on the stock. in a research note on Wednesday, March 19th. One equities research 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's stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of "Hold" and an average target price of $89.63.

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.