Public Service Enterprise Group Incorporated (NYSE:PEG) Position Increased by Capital Investment Counsel LLC

Capital Investment Counsel LLC raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 46.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,948 shares of the utilities provider’s stock after buying an additional 21,589 shares during the period. Capital Investment Counsel LLC’s holdings in Public Service Enterprise Group were worth $6,062,000 as of its most recent filing with the SEC.

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

Public Service Enterprise Group Trading Up 0.1 %

Shares of NYSE:PEG opened at $92.40 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $93.00. The firm has a fifty day moving average price of $88.38 and a 200 day moving average price of $80.67. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. 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.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. Analysts expect 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 paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend 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

In related news, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. This represents a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Tamara Louise Linde sold 9,564 shares of the 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 directly owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This trade represents 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 sold 28,739 shares of company stock valued at $2,467,753. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of 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. Evercore ISI increased their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Jefferies Financial Group started coverage on Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 price target on the stock. 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. Finally, UBS Group raised their price objective on 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. 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.69.

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.