Sterling Capital Management LLC Has $2.51 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Sterling Capital Management LLC raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 55.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 29,703 shares of the utilities provider’s stock after buying an additional 10,588 shares during the quarter. Sterling Capital Management LLC’s holdings in Public Service Enterprise Group were worth $2,510,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Center for Financial Planning Inc. raised its position in Public Service Enterprise Group by 3.0% in the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after buying an additional 120 shares during the last quarter. Spire Wealth Management raised its holdings in shares of Public Service Enterprise Group by 2.4% in the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock valued at $440,000 after purchasing an additional 121 shares during the last quarter. United Asset Strategies Inc. raised its holdings in shares of Public Service Enterprise Group by 2.6% in the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock valued at $416,000 after purchasing an additional 127 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Public Service Enterprise Group by 0.4% during the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock valued at $2,990,000 after purchasing an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Public Service Enterprise Group by 10.1% during the fourth quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider’s stock worth $128,000 after purchasing an additional 139 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 1.1 %

PEG opened at $82.14 on Monday. The company has a 50 day moving average of $81.94 and a 200 day moving average of $85.71. The company has a market cap of $40.95 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group Incorporated has a 12 month low of $64.03 and a 12 month high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company earned $0.54 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is presently 71.19%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the transaction, the chief executive officer now owns 221,670 shares of the company’s stock, valued at approximately $18,372,009.60. The trade was a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wells Fargo & Company dropped their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a report on Wednesday, March 19th. Barclays decreased their target price 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. Bank of America cut their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, BMO Capital Markets decreased their price objective on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $89.35.

About Public Service Enterprise Group

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.