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

Sterling Capital Management LLC lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 55.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,703 shares of the utilities provider's stock after acquiring an additional 10,588 shares during the period. Sterling Capital Management LLC's holdings in Public Service Enterprise Group were worth $2,510,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $445,005,000. Raymond James Financial Inc. bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth $376,209,000. Jennison Associates LLC lifted its position in Public Service Enterprise Group by 125.3% during the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock worth $285,982,000 after purchasing an additional 1,882,667 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in Public Service Enterprise Group by 604.5% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider's stock worth $169,404,000 after buying an additional 1,719,614 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in Public Service Enterprise Group by 234.1% in the 4th quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider's stock valued at $178,900,000 after buying an additional 1,483,662 shares during the period. 73.34% of the stock is owned by institutional investors.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Trading Up 0.4 %

NYSE PEG traded up $0.30 on Friday, reaching $83.33. The company had a trading volume of 2,125,183 shares, compared to its average volume of 2,724,734. The firm has a market cap of $41.55 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 2.78 and a beta of 0.52. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a fifty-two week low of $65.26 and a fifty-two week high of $95.22. The business has a 50 day moving average of $81.89 and a two-hundred day moving average of $85.55.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The business's quarterly revenue was down 5.4% on a year-over-year basis. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Monday, March 10th. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 71.19%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PEG shares. StockNews.com raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Wednesday. Wells Fargo & Company lowered their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. BMO Capital Markets reduced their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a research note on Thursday, April 10th. 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 report on Wednesday, March 19th. Finally, Bank of America decreased 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. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Public Service Enterprise Group has an average rating of "Moderate Buy" and a consensus target price of $89.35.

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.