Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Eagle Asset Management Inc.

Eagle Asset Management Inc. increased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 74.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,871 shares of the utilities provider’s stock after purchasing an additional 25,454 shares during the period. Eagle Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $5,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Public Service Enterprise Group in the 3rd quarter valued at about $35,000. Family Firm Inc. purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $33,000. OFI Invest Asset Management purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $35,000. Northwest Investment Counselors LLC purchased a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at approximately $48,000. Finally, Country Trust Bank purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $52,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Activity

In other news, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tamara Louise Linde sold 9,564 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the sale, the executive vice president now owns 48,397 shares in the company, valued at $4,385,252.17. The trade was a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,739 shares of company stock worth $2,467,753. 0.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PEG has been the subject of several analyst reports. Scotiabank increased their price target on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 price target for the company. Bank of America increased their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, Evercore ISI increased their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Four 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.69.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $92.40 on Monday. 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 Incorporated has a 52 week low of $56.85 and a 52 week high of $93.00. The stock has a market capitalization of $46.04 billion, a PE ratio of 22.70, a P/E/G ratio of 3.39 and a beta of 0.61. The firm has a 50 day moving average of $88.38 and a two-hundred day moving average of $80.73.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company 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 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. On average, research 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 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 $0.60 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.60%. Public Service Enterprise Group’s payout ratio is 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.