Fmr LLC Raises Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Fmr LLC lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 19.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,401,024 shares of the utilities provider’s stock after buying an additional 877,345 shares during the period. Fmr LLC’s holdings in Public Service Enterprise Group were worth $481,825,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Tidal Investments LLC boosted its position in Public Service Enterprise Group by 14.5% during the first quarter. Tidal Investments LLC now owns 22,598 shares of the utilities provider’s stock worth $1,509,000 after purchasing an additional 2,866 shares in the last quarter. Atria Investments Inc grew its stake in Public Service Enterprise Group by 0.7% in the 1st quarter. Atria Investments Inc now owns 38,320 shares of the utilities provider’s stock valued at $2,559,000 after acquiring an additional 253 shares during the last quarter. Cetera Investment Advisers increased its holdings in Public Service Enterprise Group by 155.6% during the 1st quarter. Cetera Investment Advisers now owns 120,880 shares of the utilities provider’s stock valued at $8,072,000 after acquiring an additional 73,585 shares in the last quarter. Cetera Advisors LLC raised its position in Public Service Enterprise Group by 66.0% during the first quarter. Cetera Advisors LLC now owns 23,614 shares of the utilities provider’s stock worth $1,577,000 after acquiring an additional 9,388 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Public Service Enterprise Group by 4.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 114,989 shares of the utilities provider’s stock valued at $7,639,000 after purchasing an additional 4,505 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling

In other Public Service Enterprise Group news, 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 transaction of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the transaction, the senior vice president now directly owns 25,829 shares in the company, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,739 shares of company stock valued at $2,467,753. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $94.31 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year 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 firm has a 50 day moving average price of $89.31 and a 200 day moving average price of $81.33. The company has a market cap of $46.99 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 3.46 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data 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 the consensus estimate of $2.44 billion. During the same period in the prior year, the firm posted $0.85 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

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 paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PEG. BMO Capital Markets raised their price objective 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. Morgan Stanley boosted their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Bank of America upped their price objective 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. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Evercore ISI raised their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

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.