Blueshift Asset Management LLC Takes $525,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Blueshift Asset Management LLC acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,885 shares of the utilities provider’s stock, valued at approximately $525,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC increased its holdings in shares of Public Service Enterprise Group by 19.4% in the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock worth $481,825,000 after acquiring an additional 877,345 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Public Service Enterprise Group by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider’s stock worth $263,315,000 after purchasing an additional 19,650 shares during the last quarter. Raymond James & Associates raised its position in Public Service Enterprise Group by 30.1% during the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock worth $255,954,000 after acquiring an additional 663,012 shares in the last quarter. Hamlin Capital Management LLC lifted its stake in Public Service Enterprise Group by 7.2% in the 3rd quarter. Hamlin Capital Management LLC now owns 2,427,336 shares of the utilities provider’s stock valued at $216,543,000 after purchasing an additional 162,731 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Public Service Enterprise Group by 43.2% during the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after acquiring an additional 732,443 shares during the period. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $94.20 on Thursday. The firm has a market cap of $46.93 billion, a P/E ratio of 23.15, a PEG ratio of 3.41 and a beta of 0.61. The company has a 50 day moving average of $88.94 and a 200 day moving average of $81.10. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last posted 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. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. Public Service Enterprise Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal 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 issued a $0.60 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.55%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Analysts Set New Price Targets

PEG has been the topic of a number of recent research reports. BMO Capital Markets raised 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 report on Monday, October 21st. Wells Fargo & Company raised their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Barclays cut their price target on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Evercore ISI upped their price target 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. Finally, UBS Group lifted 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 research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $86.69.

Insiders Place Their Bets

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total value of $866,594.04. Following the sale, the executive vice president now owns 48,397 shares in the company, valued at $4,385,252.17. This trade represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the firm’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 transaction of $86,126.04. Following the transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. 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 in the last quarter. 0.18% of the stock is currently owned by 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.