Public Sector Pension Investment Board Acquires 2,454 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Public Sector Pension Investment Board boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 86,900 shares of the utilities provider’s stock after purchasing an additional 2,454 shares during the period. Public Sector Pension Investment Board’s holdings in Public Service Enterprise Group were worth $7,752,000 at the end of the most recent quarter.

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

Insider Transactions at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the sale, the executive vice president now owns 57,961 shares in the company, valued at $4,610,217.94. The trade was a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the business’s 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 owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,739 shares of company stock worth $2,467,753 over the last quarter. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

PEG has been the topic of several recent research reports. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Morgan Stanley lifted their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 price target on the stock. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Finally, UBS Group lifted their target price 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. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average price target of $86.69.

Public Service Enterprise Group Trading Up 0.1 %

Public Service Enterprise Group stock opened at $94.31 on Friday. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week 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 stock 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. The stock has a 50-day simple moving average of $89.31 and a 200 day simple moving average of $81.33.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter last year, the company posted $0.85 earnings per share. Public Service Enterprise Group’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis 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 is presently 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.