Arvest Bank Trust Division Invests $2.86 Million in Public Service Enterprise Group Incorporated (NYSE:PEG)

Arvest Bank Trust Division bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 32,056 shares of the utilities provider's stock, valued at approximately $2,860,000.

Several other hedge funds also recently added to or reduced their stakes in PEG. Old Port Advisors grew its stake in shares of Public Service Enterprise Group by 0.5% during the third quarter. Old Port Advisors now owns 23,527 shares of the utilities provider's stock worth $2,099,000 after acquiring an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC boosted its stake in Public Service Enterprise Group by 1.3% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider's stock worth $827,000 after purchasing an additional 115 shares in the last quarter. First Commonwealth Financial Corp PA grew its position in Public Service Enterprise Group by 1.3% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider's stock worth $842,000 after purchasing an additional 123 shares during the last quarter. Cigna Investments Inc. New increased its stake in Public Service Enterprise Group by 2.5% during the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider's stock valued at $451,000 after purchasing an additional 124 shares in the last quarter. Finally, Great Lakes Retirement Inc. raised its holdings in shares of Public Service Enterprise Group by 0.4% in the third quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider's stock worth $2,619,000 after buying an additional 127 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tamara Louise Linde sold 9,564 shares of the business's stock in a transaction dated 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 transaction, 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. Insiders have sold 17,798 shares of company stock valued at $1,595,921 in the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Guggenheim reissued a "buy" rating on shares of Public Service Enterprise Group in a report on Wednesday. Evercore ISI increased their price objective 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. 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 research report on Monday, September 23rd. Wells Fargo & Company lifted their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Finally, UBS Group boosted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.17.

Public Service Enterprise Group Price Performance

Shares of PEG traded up $0.39 during trading hours on Thursday, hitting $85.95. 2,086,700 shares of the stock were exchanged, compared to its average volume of 2,752,364. The stock's 50-day moving average price is $89.43 and its two-hundred day moving average price is $82.23. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a market cap of $42.82 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 3.30 and a beta of 0.62.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion during 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 company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.79%. Public Service Enterprise Group's payout ratio is 58.97%.

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.