Wellington Management Group LLP Trims Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Wellington Management Group LLP trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 8.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,062,380 shares of the utilities provider's stock after selling 93,365 shares during the quarter. Wellington Management Group LLP owned approximately 0.21% of Public Service Enterprise Group worth $94,775,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PEG. FMR LLC boosted its holdings in shares of 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 valued at $481,825,000 after buying an additional 877,345 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Public Service Enterprise Group by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider's stock valued at $263,315,000 after acquiring an additional 19,650 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Public Service Enterprise Group by 30.1% during the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider's stock worth $255,954,000 after purchasing an additional 663,012 shares during the last quarter. Hamlin Capital Management LLC increased its position in shares of Public Service Enterprise Group by 7.2% during the third quarter. Hamlin Capital Management LLC now owns 2,427,336 shares of the utilities provider's stock worth $216,543,000 after purchasing an additional 162,731 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of 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 valued at $178,763,000 after purchasing an additional 732,443 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEG has been the subject of a number of research reports. Scotiabank boosted their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 20th. UBS Group raised 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 reduced their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Morgan Stanley raised their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday, September 23rd. Finally, Bank of America upped their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $88.08.

Insider Buying and Selling

In related news, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following 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 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 9,564 shares of the business's stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the transaction, the executive vice president now directly owns 48,397 shares of the company's stock, valued at $4,385,252.17. The trade was a 16.50 % decrease in their position. 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. Company insiders own 0.18% of the company's stock.

Public Service Enterprise Group Price Performance

PEG stock traded down $1.52 on Tuesday, reaching $86.38. 3,077,411 shares of the company's stock were exchanged, compared to its average volume of 2,751,318. The stock has a fifty day moving average of $89.63 and a 200-day moving average of $82.13. The firm has a market cap of $43.04 billion, a PE ratio of 21.22, a P/E/G ratio of 3.30 and a beta of 0.62. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted 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 net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.44 billion. During the same period in the prior year, the company posted $0.85 EPS. The business's revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 2.78%. The ex-dividend date of this dividend is Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is 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.