Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 5.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 161,795 shares of the utilities provider's stock after selling 9,957 shares during the period. HighTower Advisors LLC's holdings in Public Service Enterprise Group were worth $14,433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEG. Raymond James & Associates grew its stake in shares of Public Service Enterprise Group by 315.2% during the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider's stock valued at $162,590,000 after purchasing an additional 1,674,827 shares during the period. Sound Shore Management Inc. CT purchased a new position in Public Service Enterprise Group in the 2nd quarter worth approximately $71,298,000. FMR LLC lifted its holdings 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 worth $481,825,000 after purchasing an additional 877,345 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Public Service Enterprise Group by 43.2% in the 2nd 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 in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Public Service Enterprise Group by 79.5% in the 3rd quarter. Jennison Associates LLC now owns 1,502,136 shares of the utilities provider's stock worth $134,006,000 after purchasing an additional 665,105 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Down 1.7 %

Shares of NYSE PEG traded down $1.52 during mid-day trading on Friday, reaching $90.00. 1,646,754 shares of the company were exchanged, compared to its average volume of 2,252,659. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The stock has a market cap of $44.84 billion, a price-to-earnings ratio of 22.11, a P/E/G ratio of 3.37 and a beta of 0.62. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $95.22. The firm has a 50-day moving average of $89.65 and a 200 day moving average of $82.03.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS. On average, 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 2.67%. The ex-dividend date of this dividend is Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 58.97%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 9,563 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the sale, the executive vice president now directly owns 57,961 shares of the company's stock, valued at $4,610,217.94. This trade represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm's 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 sale, the chief executive officer now directly owns 147,514 shares in the company, valued at approximately $13,305,762.80. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,361 shares of company stock worth $2,356,562. 0.57% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on PEG. Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Bank of America boosted their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. Barclays cut their target price on 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. UBS Group boosted their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group began coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They set a "hold" rating and a $85.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $88.08.

About Public Service Enterprise Group

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.