Worldquant Millennium Advisors LLC Invests $560,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Worldquant Millennium Advisors LLC purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,273 shares of the utilities provider's stock, valued at approximately $560,000.

Several other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Public Service Enterprise Group in the third quarter valued at $35,000. Family Firm Inc. purchased a new position in Public Service Enterprise Group during the second quarter worth approximately $33,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group during the 2nd quarter valued at $35,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter worth $48,000. Finally, Friedenthal Financial bought a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $52,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on PEG. Bank of America boosted their price objective on shares of 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. UBS Group boosted their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Evercore ISI boosted their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. Wells Fargo & Company lifted their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Finally, 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 research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $88.08.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock traded down $2.11 during trading hours on Monday, reaching $87.89. The company had a trading volume of 2,638,558 shares, compared to its average volume of 2,749,938. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $95.22. The business has a fifty day simple moving average of $89.63 and a 200 day simple moving average of $82.13. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The firm has a market cap of $43.79 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 3.30 and a beta of 0.62.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating 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 business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the business posted $0.85 earnings per share. The company's revenue for the quarter was up 7.6% on a year-over-year basis. On average, 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.73%. Public Service Enterprise Group's payout ratio is 58.97%.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction dated 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 directly owns 147,514 shares in the company, valued at approximately $13,305,762.80. This represents a 0.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Richard T. Thigpen sold 5,900 shares of the company's stock in a transaction dated Monday, November 11th. The shares were 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 in the company, valued at $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,798 shares of company stock worth $1,595,921 in the last three months. Insiders own 0.18% of the company's stock.

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.