Consolidated Planning Corp Buys 11,377 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Consolidated Planning Corp boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 203.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,970 shares of the utilities provider's stock after purchasing an additional 11,377 shares during the quarter. Consolidated Planning Corp's holdings in Public Service Enterprise Group were worth $1,397,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Public Service Enterprise Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider's stock worth $5,134,882,000 after buying an additional 492,517 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Public Service Enterprise Group by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock worth $1,027,725,000 after buying an additional 365,666 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Public Service Enterprise Group by 10.2% during the fourth quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider's stock worth $551,323,000 after buying an additional 604,978 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Public Service Enterprise Group by 6.1% during the fourth quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider's stock worth $490,644,000 after buying an additional 335,135 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $445,005,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $82.08 on Monday. The company has a market cap of $40.96 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 2.94 and a beta of 0.48. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25. The stock has a 50-day moving average price of $80.35 and a 200-day moving average price of $82.47. Public Service Enterprise Group Incorporated has a 12-month low of $72.82 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The company's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the company posted $1.31 EPS. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.07%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is 68.85%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Guggenheim dropped their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Bank of America dropped their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. Wells Fargo & Company dropped their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Finally, Morgan Stanley dropped their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. One 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price 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 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.19% of the company's stock.

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.

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