Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.1% during the third quarter, HoldingsChannel.com reports. The fund owned 11,166 shares of the utilities provider’s stock after buying an additional 736 shares during the period. Great Valley Advisor Group Inc.’s holdings in Public Service Enterprise Group were worth $997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Old Port Advisors raised its holdings in shares of Public Service Enterprise Group by 0.5% in the third quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock valued at $2,099,000 after buying an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC raised its stake in Public Service Enterprise Group by 1.3% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock valued at $827,000 after acquiring an additional 115 shares during the last quarter. Cigna Investments Inc. New lifted its position in Public Service Enterprise Group by 2.5% during the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock worth $451,000 after acquiring an additional 124 shares during the period. Great Lakes Retirement Inc. grew its stake in shares of Public Service Enterprise Group by 0.4% in the 3rd quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock valued at $2,619,000 after purchasing an additional 127 shares during the last quarter. Finally, Brighton Jones LLC increased its holdings in shares of Public Service Enterprise Group by 1.8% in the second quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock valued at $548,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.7 %

Public Service Enterprise Group stock opened at $93.01 on Tuesday. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $93.11. The firm has a market capitalization of $46.34 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 3.39 and a beta of 0.61. The stock’s fifty day moving average is $88.54 and its two-hundred day moving average is $80.86. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 EPS. Analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a dividend of $0.60 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.58%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PEG shares. UBS Group lifted their price objective on shares of 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. Bank of America boosted their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Wells Fargo & Company increased their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Scotiabank lifted their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Finally, Evercore ISI raised their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average target price of $86.69.

Insider Activity at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 956 shares of the company’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 sale, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares in the company, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,739 shares of company stock valued at $2,467,753. 0.57% of the stock is owned by corporate insiders.

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.