First National Bank of Mount Dora Trust Investment Services Sells 7,130 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

First National Bank of Mount Dora Trust Investment Services trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,973 shares of the utilities provider's stock after selling 7,130 shares during the quarter. Public Service Enterprise Group makes up about 1.5% of First National Bank of Mount Dora Trust Investment Services' investment portfolio, making the stock its 28th largest holding. First National Bank of Mount Dora Trust Investment Services' holdings in Public Service Enterprise Group were worth $6,335,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Center for Financial Planning Inc. increased its position in Public Service Enterprise Group by 3.0% in the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider's stock worth $349,000 after buying an additional 120 shares during the period. Centre Asset Management LLC grew its stake in shares of Public Service Enterprise Group by 3.2% in the first quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock worth $324,000 after acquiring an additional 121 shares during the last quarter. Larson Financial Group LLC increased its position in Public Service Enterprise Group by 10.1% during the fourth quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider's stock worth $128,000 after acquiring an additional 139 shares during the period. Apella Capital LLC raised its stake in 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 purchasing an additional 144 shares during the last quarter. Finally, Copperwynd Financial LLC raised its stake in 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 purchasing an additional 145 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PEG. Barclays dropped their price objective on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Wall Street Zen lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. Morgan Stanley reduced their price objective on Public Service Enterprise Group from $102.00 to $101.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. LADENBURG THALM/SH SH lowered shares of 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 report on Wednesday, March 19th. Finally, Wells Fargo & Company lowered their target price on shares of 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Hold" and a consensus target price of $89.63.

Public Service Enterprise Group Price Performance

Shares of PEG traded down $0.26 during mid-day trading on Tuesday, hitting $79.43. 2,346,433 shares of the company traded hands, compared to its average volume of 2,788,817. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $39.63 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 2.78 and a beta of 0.48. The business has a 50-day moving average of $80.11 and a 200 day moving average of $83.21. Public Service Enterprise Group Incorporated has a one year low of $71.89 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the business earned $1.31 EPS. The business's quarterly revenue was up 16.7% compared to the same quarter last year. As a group, equities analysts expect 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 declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a $0.63 dividend. 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 currently 68.85%.

Insider Buying and Selling

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

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.