Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,829,634 shares of the utilities provider's stock after purchasing an additional 49,285 shares during the period. Geode Capital Management LLC owned about 2.37% of Public Service Enterprise Group worth $1,051,744,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James & Associates grew its position in shares of Public Service Enterprise Group by 315.2% in the second 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 acquired a new stake in Public Service Enterprise Group in the 2nd quarter worth about $71,298,000. FMR LLC increased its stake in Public Service Enterprise Group by 19.4% during the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock worth $481,825,000 after buying an additional 877,345 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Public Service Enterprise Group by 43.2% during the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider's stock valued at $178,763,000 after acquiring an additional 732,443 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Public Service Enterprise Group by 79.5% in the third quarter. Jennison Associates LLC now owns 1,502,136 shares of the utilities provider's stock valued at $134,006,000 after acquiring an additional 665,105 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on PEG. Guggenheim reiterated a "buy" rating on shares of Public Service Enterprise Group in a research report on Wednesday. Scotiabank boosted their price target on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 20th. BMO Capital Markets increased their price objective 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. Bank of America boosted their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Finally, Evercore ISI increased their price target 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. Four 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.08.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total transaction of $124,295.60. Following the sale, the chief executive officer now owns 147,514 shares of the company's stock, valued at approximately $13,305,762.80. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kim C. Hanemann sold 956 shares of the 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 trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,798 shares of company stock worth $1,595,921 in the last quarter. 0.18% of the stock is owned by company insiders.

Public Service Enterprise Group Trading Down 0.9 %

NYSE PEG traded down $0.82 during trading hours on Wednesday, reaching $85.56. The company had a trading volume of 3,585,551 shares, compared to its average volume of 2,753,805. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $95.22. The stock has a market capitalization of $42.63 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 3.30 and a beta of 0.62. The stock has a 50-day moving average of $89.54 and a 200 day moving average of $82.21. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

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 for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the firm earned $0.85 EPS. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group's payout ratio is currently 58.97%.

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.