Retirement Planning Co of New England Inc. Purchases Shares of 3,844 Public Service Enterprise Group Incorporated (NYSE:PEG)

Retirement Planning Co of New England Inc. acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,844 shares of the utilities provider's stock, valued at approximately $316,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEG. Forte Capital LLC ADV acquired a new stake in Public Service Enterprise Group in the 1st quarter valued at about $280,000. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Public Service Enterprise Group by 4.0% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 10,701 shares of the utilities provider's stock valued at $881,000 after acquiring an additional 411 shares during the period. Bailard Inc. boosted its holdings in Public Service Enterprise Group by 12.9% in the first quarter. Bailard Inc. now owns 17,157 shares of the utilities provider's stock valued at $1,412,000 after acquiring an additional 1,959 shares during the last quarter. Woodward Diversified Capital LLC boosted its holdings in Public Service Enterprise Group by 9.0% in the first quarter. Woodward Diversified Capital LLC now owns 3,188 shares of the utilities provider's stock valued at $262,000 after acquiring an additional 263 shares during the last quarter. Finally, Graypoint LLC increased its position in Public Service Enterprise Group by 5.4% in the first quarter. Graypoint LLC now owns 4,444 shares of the utilities provider's stock worth $366,000 after purchasing an additional 226 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the transaction, the chief executive officer owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Trading Up 0.8%

Shares of NYSE:PEG opened at $82.83 on Friday. The firm has a market cap of $41.33 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 2.94 and a beta of 0.48. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.25. Public Service Enterprise Group Incorporated has a 12 month low of $73.72 and a 12 month high of $95.22. The company's fifty day simple moving average is $80.88 and its 200 day simple moving average is $82.09.

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

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were issued a $0.63 dividend. The ex-dividend date was Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.04%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 68.85%.

Analyst Ratings Changes

PEG has been the topic of several recent research reports. Barclays reduced their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Guggenheim decreased their price objective 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. UBS Group raised Public Service Enterprise Group from a "neutral" rating to a "buy" rating and increased their target price for the company from $86.00 to $97.00 in a research note on Monday, July 7th. BMO Capital Markets lowered their price target on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research note on Thursday, April 10th. Finally, Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $89.86.

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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