Premier Fund Managers Ltd Purchases 2,500 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Premier Fund Managers Ltd lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,500 shares of the utilities provider’s stock after buying an additional 2,500 shares during the period. Premier Fund Managers Ltd’s holdings in Public Service Enterprise Group were worth $2,868,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Blair William & Co. IL grew its position in Public Service Enterprise Group by 5.8% during the 1st quarter. Blair William & Co. IL now owns 13,458 shares of the utilities provider’s stock worth $899,000 after acquiring an additional 735 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Public Service Enterprise Group in the first quarter worth $333,000. O Shaughnessy Asset Management LLC increased its stake in shares of Public Service Enterprise Group by 23.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 27,277 shares of the utilities provider’s stock worth $1,822,000 after buying an additional 5,246 shares during the period. UniSuper Management Pty Ltd boosted its position in Public Service Enterprise Group by 354.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 20,722 shares of the utilities provider’s stock valued at $1,384,000 after buying an additional 16,160 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in shares of Public Service Enterprise Group by 952.2% during the first quarter. Bessemer Group Inc. now owns 51,988 shares of the utilities provider’s stock worth $3,472,000 after purchasing an additional 47,047 shares during the period. Institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company upped their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. UBS Group raised 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 report on Wednesday, October 30th. BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Bank of America increased their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Barclays lowered their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $86.69.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the sale, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. The trade was a 18.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. This trade represents a 0.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,783 shares of company stock worth $2,381,626 over the last quarter. 0.18% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $90.09 on Wednesday. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $92.20. The firm’s 50-day moving average is $87.87 and its 200 day moving average is $80.31. The stock has a market cap of $44.89 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 3.27 and a beta of 0.61. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.66%. 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.