113,630 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Bought by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 113,630 shares of the utilities provider's stock, valued at approximately $10,137,000. Public Service Enterprise Group comprises about 1.3% of SPX Gestao de Recursos Ltda's investment portfolio, making the stock its 16th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James & Associates lifted its holdings in shares of Public Service Enterprise Group by 315.2% during 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 in the last quarter. Sound Shore Management Inc. CT purchased a new position in Public Service Enterprise Group in the 2nd quarter worth about $71,298,000. FMR LLC lifted 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 valued at $481,825,000 after acquiring an additional 877,345 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Public Service Enterprise Group by 43.2% during the 2nd 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 grew its stake 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 worth $134,006,000 after acquiring an additional 665,105 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of PEG traded up $0.86 during mid-day trading on Friday, reaching $86.81. The stock had a trading volume of 2,143,233 shares, compared to its average volume of 2,749,773. The business has a fifty day moving average of $89.21 and a 200 day moving average of $82.34. 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 firm has a market cap of $43.25 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 3.14 and a beta of 0.62. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly 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 return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group'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 business posted $0.85 EPS. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 58.97%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PEG shares. Bank of America raised their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Wells Fargo & Company raised their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Morgan Stanley upped their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an "overweight" rating in a research report on Monday, September 23rd. Scotiabank raised their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a "sector perform" rating in a research report on Thursday. Finally, Barclays reduced their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $89.17.

Insiders Place Their Bets

In other news, COO Kim C. Hanemann sold 956 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the transaction, the chief operating officer now owns 70,011 shares of the company's stock, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now directly owns 147,514 shares of the company's stock, valued at $13,305,762.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,798 shares of company stock worth $1,595,921 in the last three months. 0.57% of the stock is owned by company insiders.

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.