Center for Financial Planning Inc. Purchases 120 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Center for Financial Planning Inc. lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,126 shares of the utilities provider’s stock after acquiring an additional 120 shares during the period. Center for Financial Planning Inc.’s holdings in Public Service Enterprise Group were worth $349,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $35,000. Wingate Wealth Advisors Inc. bought a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $35,000. Northwest Investment Counselors LLC bought a new position in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $48,000. Stonebridge Financial Group LLC bought a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $54,000. Finally, Financial Life Planners bought a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $56,000. Institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

PEG has been the subject of several research reports. Scotiabank increased their target price on 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 reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. UBS Group raised their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets raised their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $88.83.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares in the company, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,712 shares of company stock worth $317,644. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $83.85 on Friday. The business’s fifty day simple moving average is $85.31 and its two-hundred day simple moving average is $85.64. 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 Incorporated has a 12 month low of $58.96 and a 12 month high of $95.22. The company has a market cap of $41.78 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 2.77 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.01%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 58.97%.

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.