Kayne Anderson Capital Advisors LP Acquires 15,045 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Kayne Anderson Capital Advisors LP raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 12.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 133,102 shares of the utilities provider's stock after buying an additional 15,045 shares during the quarter. Public Service Enterprise Group accounts for 0.3% of Kayne Anderson Capital Advisors LP's portfolio, making the stock its 28th largest position. Kayne Anderson Capital Advisors LP's holdings in Public Service Enterprise Group were worth $11,874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PEG. Old Port Advisors grew its holdings in shares of Public Service Enterprise Group by 0.5% during the 3rd quarter. Old Port Advisors now owns 23,527 shares of the utilities provider's stock valued at $2,099,000 after acquiring an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC increased its position in Public Service Enterprise Group by 1.3% during the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider's stock worth $827,000 after buying an additional 115 shares during the last quarter. Cigna Investments Inc. New raised its holdings in Public Service Enterprise Group by 2.5% during the third quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider's stock valued at $451,000 after buying an additional 124 shares in the last quarter. Great Lakes Retirement Inc. lifted its position 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. Finally, Brighton Jones LLC increased its holdings in shares of Public Service Enterprise Group by 1.8% during the 2nd quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider's stock valued at $548,000 after acquiring an additional 131 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEG has been the subject of several research reports. Bank of America increased their price objective 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. BMO Capital Markets increased 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 report on Monday, October 21st. Evercore ISI boosted their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an "outperform" rating in a report on Tuesday, October 8th. Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They issued a "hold" rating and a $85.00 target price for the company. Finally, UBS Group upped their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $86.69.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was 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 $12,014,095.48. This trade represents a 0.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tamara Louise Linde sold 9,563 shares of the 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 owns 57,961 shares in the company, valued at $4,610,217.94. The trade was a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,783 shares of company stock valued at $2,381,626. Company insiders own 0.57% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock traded up $0.44 during trading on Monday, hitting $89.43. 2,443,835 shares of the stock were exchanged, compared to its average volume of 2,778,193. 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 company has a fifty day moving average price of $87.68 and a 200-day moving average price of $80.17. The stock has a market capitalization of $44.56 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 3.27 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $92.20.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results 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. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The business's revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

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.