WINTON GROUP Ltd Takes $523,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

WINTON GROUP Ltd purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,102 shares of the utilities provider’s stock, valued at approximately $523,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEG. Gilbert & Cook Inc. lifted its holdings in shares of Public Service Enterprise Group by 5.4% during the 4th quarter. Gilbert & Cook Inc. now owns 7,327 shares of the utilities provider’s stock valued at $448,000 after buying an additional 373 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Public Service Enterprise Group by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,500,036 shares of the utilities provider’s stock valued at $91,726,000 after buying an additional 30,414 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Public Service Enterprise Group by 13.2% during the 4th quarter. Brown Advisory Inc. now owns 7,231 shares of the utilities provider’s stock valued at $442,000 after buying an additional 843 shares during the period. ING Groep NV lifted its holdings in shares of Public Service Enterprise Group by 48.1% during the 4th quarter. ING Groep NV now owns 17,121 shares of the utilities provider’s stock valued at $1,047,000 after buying an additional 5,562 shares during the period. Finally, Norges Bank bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $215,074,000. 73.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PEG has been the topic of a number of recent research reports. Guggenheim raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Monday, June 17th. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Scotiabank raised their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Morgan Stanley raised their target price on Public Service Enterprise Group from $78.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $77.92.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the transaction, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The disclosure for this sale can be found here. Insiders sold a total of 30,068 shares of company stock worth $2,406,965 over the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Down 0.0 %

Shares of Public Service Enterprise Group stock opened at $84.73 on Wednesday. The firm has a market cap of $42.21 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 3.03 and a beta of 0.60. The business has a 50-day moving average price of $79.19 and a 200-day moving average price of $73.23. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $85.11.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 EPS. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.83%. Public Service Enterprise Group’s payout ratio is 66.48%.

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.