Fortem Financial Group LLC Has $734,000 Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Fortem Financial Group LLC decreased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,228 shares of the utilities provider’s stock after selling 358 shares during the quarter. Fortem Financial Group LLC’s holdings in Public Service Enterprise Group were worth $734,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Raymond James & Associates raised its position in Public Service Enterprise Group by 315.2% during the second quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock worth $162,590,000 after acquiring an additional 1,674,827 shares in the last quarter. Sound Shore Management Inc. CT bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at about $71,298,000. FMR LLC lifted its stake in Public Service Enterprise Group by 19.4% in the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after purchasing an additional 877,345 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Public Service Enterprise Group by 43.2% during the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after purchasing an additional 732,443 shares during the period. Finally, Jennison Associates LLC raised its stake in Public Service Enterprise Group by 79.5% in the third quarter. Jennison Associates LLC now owns 1,502,136 shares of the utilities provider’s stock valued at $134,006,000 after buying an additional 665,105 shares during the period. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PEG. Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 target price on the stock. Barclays dropped their price objective on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Bank of America upped 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. Evercore ISI raised 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. Finally, Morgan Stanley upped their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average target price of $88.08.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $86.38 on Wednesday. The stock has a market capitalization of $43.04 billion, a PE ratio of 21.22, a P/E/G ratio of 3.30 and a beta of 0.62. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The business has a fifty day moving average price of $89.63 and a two-hundred day moving average price of $82.13.

Public Service Enterprise Group (NYSE:PEG) last released its 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. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $0.85 EPS. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.78%. Public Service Enterprise Group’s payout ratio is 58.97%.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total value of $124,295.60. Following the transaction, the chief executive officer now owns 147,514 shares in the company, valued at $13,305,762.80. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Kim C. Hanemann sold 956 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the transaction, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,798 shares of company stock worth $1,595,921. Insiders own 0.18% of the company’s stock.

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.