Intech Investment Management LLC Has $2.62 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Intech Investment Management LLC raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 58.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 29,352 shares of the utilities provider’s stock after purchasing an additional 10,850 shares during the quarter. Intech Investment Management LLC’s holdings in Public Service Enterprise Group were worth $2,618,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Family Firm Inc. bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at $33,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group in the second quarter valued at $35,000. Ashton Thomas Securities LLC bought a new stake in Public Service Enterprise Group during the third quarter valued at $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group during the 3rd quarter worth about $48,000. Finally, Country Trust Bank bought a new position in shares of Public Service Enterprise Group in the 2nd quarter worth about $52,000. Institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

PEG has been the topic of several recent analyst reports. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Wells Fargo & Company increased their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Morgan Stanley raised their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Evercore ISI upped their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Scotiabank raised their target price on 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. Four research 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $86.69.

Public Service Enterprise Group Stock Up 0.1 %

PEG stock opened at $92.40 on Friday. The stock’s 50 day moving average is $88.38 and its 200-day moving average is $80.67. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $93.00. The firm 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 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 issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.44 billion. During the same period last year, the business earned $0.85 EPS. The business’s revenue was up 7.6% on a year-over-year basis. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 2.60%. The ex-dividend date of this dividend is Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is 58.97%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The trade was a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tamara Louise Linde sold 9,564 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the transaction, the executive vice president now owns 48,397 shares of the company’s stock, valued at $4,385,252.17. This trade represents a 16.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,739 shares of company stock worth $2,467,753. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Company 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.