Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Keystone Financial Planning Inc.

Keystone Financial Planning Inc. trimmed its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 15.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,599 shares of the utilities provider’s stock after selling 1,021 shares during the quarter. Keystone Financial Planning Inc.’s holdings in Public Service Enterprise Group were worth $473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of PEG. Geode Capital Management LLC grew its position in Public Service Enterprise Group by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider’s stock valued at $1,051,744,000 after buying an additional 49,285 shares during the last quarter. FMR LLC boosted its holdings in shares of Public Service Enterprise Group by 19.4% in the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after acquiring an additional 877,345 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Public Service Enterprise Group by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider’s stock worth $263,315,000 after acquiring an additional 19,650 shares during the period. Raymond James & Associates raised its holdings in Public Service Enterprise Group by 30.1% during the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock worth $255,954,000 after purchasing an additional 663,012 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Public Service Enterprise Group by 5.9% in the third quarter. Franklin Resources Inc. now owns 2,637,882 shares of the utilities provider’s stock valued at $235,194,000 after purchasing an additional 147,903 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the transaction, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,234 shares of company stock worth $722,037. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock traded up $0.14 during trading on Monday, hitting $84.37. 793,003 shares of the company were exchanged, compared to its average volume of 1,850,806. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $95.22. The stock has a market capitalization of $42.04 billion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 3.18 and a beta of 0.65. The firm has a 50 day moving average price of $87.44 and a 200 day moving average price of $84.05. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the business posted $0.85 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. On average, 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.84%. Public Service Enterprise Group’s payout ratio is 58.97%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. UBS Group increased their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. BMO Capital Markets increased their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Scotiabank boosted their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.17.

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.