BNP PARIBAS ASSET MANAGEMENT Holding S.A. Raises Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 137,423 shares of the utilities provider’s stock after acquiring an additional 12,593 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Public Service Enterprise Group were worth $12,259,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PEG. Family Firm Inc. purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $33,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group during the second quarter worth $35,000. Ashton Thomas Securities LLC purchased a new position in shares of Public Service Enterprise Group during the third quarter worth $35,000. Northwest Investment Counselors LLC acquired a new stake in shares of Public Service Enterprise Group in the third quarter valued at $48,000. Finally, Country Trust Bank purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at $52,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEG has been the subject of several research reports. Bank of America lifted their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley upped their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. UBS Group increased their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Finally, Evercore ISI increased their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.69.

Public Service Enterprise Group Stock Up 0.1 %

Shares of NYSE PEG opened at $92.40 on Friday. The business has a 50-day moving average of $88.38 and a two-hundred day moving average of $80.67. The company has a market capitalization of $46.04 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 3.39 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $93.00. 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 (NYSE:PEG) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Insider Buying and Selling

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group 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 transaction, the executive vice president now owns 57,961 shares of the company’s stock, valued at $4,610,217.94. The trade was a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a 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 shares were 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 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 have sold 28,739 shares of company stock worth $2,467,753 in the last ninety days. 0.57% of the stock is owned by corporate 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.