Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Fmr LLC

Fmr LLC increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 19.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,401,024 shares of the utilities provider’s stock after acquiring an additional 877,345 shares during the period. Fmr LLC owned approximately 1.08% of Public Service Enterprise Group worth $481,825,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEG. The Manufacturers Life Insurance Company raised its position in Public Service Enterprise Group by 0.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 826,074 shares of the utilities provider’s stock valued at $73,694,000 after purchasing an additional 3,430 shares in the last quarter. Bank of Montreal Can raised its holdings in Public Service Enterprise Group by 13.1% in the third quarter. Bank of Montreal Can now owns 699,819 shares of the utilities provider’s stock valued at $61,759,000 after acquiring an additional 81,066 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in Public Service Enterprise Group by 3.1% in the third quarter. Brown Brothers Harriman & Co. now owns 7,423 shares of the utilities provider’s stock worth $662,000 after acquiring an additional 226 shares during the last quarter. DRW Securities LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter worth approximately $8,244,000. Finally, Harvest Fund Management Co. Ltd increased its position in shares of Public Service Enterprise Group by 307.1% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 4,674 shares of the utilities provider’s stock valued at $417,000 after purchasing an additional 3,526 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Barclays decreased their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Bank of America increased their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. 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 research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

Insider Activity

In related news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. This represents a 0.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,739 shares of company stock valued at $2,467,753 over the last quarter. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Up 0.1 %

Shares of Public Service Enterprise Group stock opened at $94.31 on Friday. The company’s fifty day moving average is $89.31 and its two-hundred day moving average is $81.33. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a market capitalization of $46.99 billion, a P/E ratio of 23.17, a PEG ratio of 3.46 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Public Service Enterprise Group Company 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.