Sterling Financial Planning Inc. Takes $283,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

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

Other hedge funds and other institutional investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its position in shares of Public Service Enterprise Group by 6.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider's stock worth $3,922,000 after purchasing an additional 2,803 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of Public Service Enterprise Group during the 1st quarter worth approximately $298,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Public Service Enterprise Group by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock worth $7,417,000 after purchasing an additional 3,601 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Public Service Enterprise Group by 12.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock worth $327,000 after purchasing an additional 447 shares during the last quarter. Finally, Spire Wealth Management raised its position in shares of Public Service Enterprise Group by 8.6% during the 1st quarter. Spire Wealth Management now owns 5,653 shares of the utilities provider's stock worth $465,000 after purchasing an additional 446 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 1.2%

NYSE:PEG traded up $0.97 on Monday, hitting $82.14. 164,237 shares of the stock were exchanged, compared to its average volume of 2,772,289. The stock has a market cap of $40.99 billion, a PE ratio of 22.44, a PEG ratio of 2.91 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 fifty day moving average of $80.43 and a 200-day moving average of $82.24. Public Service Enterprise Group Incorporated has a fifty-two week low of $73.72 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The firm's revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.31 earnings per share. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.07%. Public Service Enterprise Group's dividend payout ratio is presently 68.85%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the sale, the chief executive officer directly owned 218,328 shares in the company, valued at $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PEG shares. BMO Capital Markets cut their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research report on Thursday, April 10th. Barclays cut their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Wall Street Zen cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. Morgan Stanley lowered their target price on shares of 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. Finally, LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price for the company. in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of "Hold" and a consensus target price of $89.46.

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.