Sterling Financial Planning Inc. Purchases Shares of 3,439 Public Service Enterprise Group Incorporated (NYSE:PEG)

Sterling Financial Planning Inc. acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,439 shares of the utilities provider's stock, valued at approximately $283,000.

Other hedge funds have also modified their holdings of the company. Transce3nd LLC purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $25,000. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group in the fourth quarter valued at $25,000. REAP Financial Group LLC increased its holdings in Public Service Enterprise Group by 105.9% in the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after buying an additional 162 shares during the last quarter. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group in the fourth quarter valued at $39,000. Finally, Optiver Holding B.V. purchased a new position in Public Service Enterprise Group in the fourth quarter valued at $50,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the sale, the chief executive officer directly owned 218,328 shares in the company, valued at approximately $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Performance

PEG traded up $0.47 during trading on Friday, reaching $81.69. The company's stock had a trading volume of 2,018,416 shares, compared to its average volume of 2,782,448. Public Service Enterprise Group Incorporated has a 52-week low of $73.72 and a 52-week high of $95.22. The company's fifty day moving average price is $80.43 and its 200-day moving average price is $82.25. The company has a market capitalization of $40.76 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 2.91 and a beta of 0.48. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting analysts' consensus estimates of $1.43. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The firm's revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.31 earnings per share. On average, 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 company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is 68.85%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PEG. LADENBURG THALM/SH SH downgraded 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. Wall Street Zen downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. Guggenheim dropped their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Morgan Stanley dropped their price objective on 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. Finally, Barclays dropped their price objective on 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $89.54.

Public Service Enterprise Group Company 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.