Rockefeller Capital Management L.P. Purchases 9,989 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Rockefeller Capital Management L.P. raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 195,564 shares of the utilities provider’s stock after purchasing an additional 9,989 shares during the period. Rockefeller Capital Management L.P.’s holdings in Public Service Enterprise Group were worth $17,436,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Family Firm Inc. bought a new stake in Public Service Enterprise Group during the 2nd quarter valued at $33,000. OFI Invest Asset Management bought a new position in shares of Public Service Enterprise Group in the 2nd quarter worth $35,000. Ashton Thomas Securities LLC bought a new position in shares of Public Service Enterprise Group in the 3rd quarter worth $35,000. Northwest Investment Counselors LLC bought a new position in shares of Public Service Enterprise Group in the 3rd quarter worth $48,000. Finally, Country Trust Bank bought a new position in shares of Public Service Enterprise Group in the 2nd quarter worth $52,000. 73.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PEG shares. Bank of America boosted their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company boosted their price target on 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. BMO Capital Markets boosted their price target 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 upped their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Evercore ISI upped their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.08.

Public Service Enterprise Group Stock Up 0.1 %

Public Service Enterprise Group stock opened at $94.30 on Monday. 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 business’s 50-day simple moving average is $89.31 and its two-hundred day simple moving average is $81.44. The company has a market cap of $46.98 billion, a PE ratio of 23.17, a PEG ratio of 3.46 and a beta of 0.61. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $2.44 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business 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. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.55%. Public Service Enterprise Group’s payout ratio is 58.97%.

Insider Transactions at Public Service Enterprise Group

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

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.