Sowell Financial Services LLC Invests $298,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Sowell Financial Services LLC bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,622 shares of the utilities provider's stock, valued at approximately $298,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Centre Asset Management LLC lifted its holdings in shares of Public Service Enterprise Group by 3.2% during the 1st quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock valued at $324,000 after acquiring an additional 121 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Public Service Enterprise Group by 10.1% during the 4th quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider's stock valued at $128,000 after acquiring an additional 139 shares in the last quarter. Apella Capital LLC lifted its holdings in shares of Public Service Enterprise Group by 2.7% during the 1st quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider's stock valued at $443,000 after acquiring an additional 144 shares in the last quarter. Copperwynd Financial LLC lifted its holdings in shares of Public Service Enterprise Group by 1.4% during the 4th quarter. Copperwynd Financial LLC now owns 10,714 shares of the utilities provider's stock valued at $905,000 after acquiring an additional 145 shares in the last quarter. Finally, Net Worth Advisory Group lifted its holdings in shares of Public Service Enterprise Group by 5.6% during the 1st quarter. Net Worth Advisory Group now owns 2,809 shares of the utilities provider's stock valued at $231,000 after acquiring an additional 148 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Bank of America dropped their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Barclays dropped their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. Finally, Guggenheim dropped their price target on shares of 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. 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $89.54.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares of the company's stock, valued at approximately $18,372,009.60. This represents a 0.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is owned by insiders.

Public Service Enterprise Group Stock Performance

NYSE PEG traded up $1.34 on Monday, hitting $83.44. The stock had a trading volume of 2,568,986 shares, compared to its average volume of 2,810,147. Public Service Enterprise Group Incorporated has a one year low of $72.82 and a one year high of $95.22. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.25. The stock has a market cap of $41.64 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 2.94 and a beta of 0.48. The company's 50-day moving average is $80.35 and its two-hundred day moving average is $82.47.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. Public Service Enterprise Group's quarterly revenue was up 16.7% on a year-over-year basis. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.02%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is 68.85%.

Public Service Enterprise Group 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.