Sterling Financial Planning Inc. Has $121,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Sterling Financial Planning Inc. lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 36.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,006 shares of the utilities provider’s stock after selling 1,159 shares during the quarter. Sterling Financial Planning Inc.’s holdings in Public Service Enterprise Group were worth $121,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PEG. Orrstown Financial Services Inc. boosted its stake in Public Service Enterprise Group by 1.3% in the first quarter. Orrstown Financial Services Inc. now owns 13,206 shares of the utilities provider’s stock valued at $788,000 after acquiring an additional 173 shares during the last quarter. Capital Investment Advisors LLC raised its stake in Public Service Enterprise Group by 3.8% in the 1st quarter. Capital Investment Advisors LLC now owns 5,006 shares of the utilities provider’s stock worth $301,000 after purchasing an additional 185 shares in the last quarter. Neumann Capital Management LLC raised its position in shares of Public Service Enterprise Group by 0.6% in the 4th quarter. Neumann Capital Management LLC now owns 31,845 shares of the utilities provider’s stock valued at $1,857,000 after buying an additional 200 shares in the last quarter. Personal CFO Solutions LLC raised its position in shares of Public Service Enterprise Group by 2.8% in the 4th quarter. Personal CFO Solutions LLC now owns 7,769 shares of the utilities provider’s stock valued at $453,000 after buying an additional 213 shares in the last quarter. Finally, Palladium Partners LLC raised its position in shares of Public Service Enterprise Group by 4.5% in the 4th quarter. Palladium Partners LLC now owns 4,990 shares of the utilities provider’s stock valued at $291,000 after buying an additional 215 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 4,890 shares of the business’s stock in a transaction on Monday, April 19th. The stock was sold at an average price of $63.30, for a total transaction of $309,537.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 6,087 shares of company stock worth $380,694 in the last three months. 0.48% of the stock is currently owned by corporate insiders.

Several brokerages recently issued reports on PEG. Mizuho raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $56.00 to $67.50 in a research note on Thursday, April 29th. KeyCorp boosted their target price on Public Service Enterprise Group from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 20th. Wells Fargo & Company boosted their target price on Public Service Enterprise Group from $64.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 14th. They noted that the move was a valuation call. The Goldman Sachs Group raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Thursday, January 14th. Finally, Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, April 26th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $65.94.

Shares of NYSE PEG traded down $0.04 during midday trading on Tuesday, reaching $63.61. 10,983 shares of the stock traded hands, compared to its average volume of 2,104,917. The company’s 50 day moving average is $60.96 and its 200 day moving average is $58.70. Public Service Enterprise Group Incorporated has a one year low of $43.87 and a one year high of $64.30. The stock has a market capitalization of $32.13 billion, a PE ratio of 16.88, a P/E/G ratio of 6.10 and a beta of 0.49. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.76 and a quick ratio of 0.59.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Thursday, February 25th. The utilities provider reported $0.65 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.65. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.83 billion. Public Service Enterprise Group had a return on equity of 11.30% and a net margin of 19.74%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.42 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Tuesday, June 8th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Monday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 62.20%.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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