Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 125.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,384,803 shares of the utilities provider's stock after purchasing an additional 1,882,667 shares during the quarter. Jennison Associates LLC owned about 0.68% of Public Service Enterprise Group worth $285,982,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter worth $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter worth $48,000. Legacy Investment Solutions LLC acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter worth $59,000. Fortitude Family Office LLC grew its stake in shares of Public Service Enterprise Group by 325.0% during the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider's stock worth $71,000 after purchasing an additional 611 shares during the period. Finally, Salem Investment Counselors Inc. grew its stake in shares of Public Service Enterprise Group by 67.5% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,119 shares of the utilities provider's stock worth $95,000 after purchasing an additional 451 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Down 0.2 %

PEG traded down $0.18 on Thursday, reaching $83.93. 1,607,842 shares of the company's stock were exchanged, compared to its average volume of 2,259,848. The company's 50 day moving average is $86.35 and its 200-day moving average is $85.36. The company has a market cap of $41.81 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.67 and a beta of 0.64. Public Service Enterprise Group Incorporated has a twelve month low of $57.40 and a twelve 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.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted 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 firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate 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 was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. Equities analysts predict 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 announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was 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 other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the 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 owns 25,829 shares of the company's stock, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 70,011 shares of the company's stock, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,612 shares of company stock valued at $836,549 over the last 90 days. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PEG shares. UBS Group boosted their price objective 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. Barclays lowered shares of Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Wells Fargo & Company boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Guggenheim reiterated a "buy" rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Finally, BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a "market perform" rating in a research report on Monday, October 21st. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Public Service Enterprise Group has an average rating of "Moderate Buy" and an average target price of $88.83.

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.