Natixis Advisors LLC Decreases Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Natixis Advisors LLC reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 26.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 208,063 shares of the utilities provider’s stock after selling 73,044 shares during the period. Natixis Advisors LLC’s holdings in Public Service Enterprise Group were worth $18,561,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Old Port Advisors boosted its position in Public Service Enterprise Group by 0.5% in the 3rd quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock valued at $2,099,000 after buying an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC lifted its position in shares of Public Service Enterprise Group by 1.3% during the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock worth $827,000 after purchasing an additional 115 shares during the last quarter. Cigna Investments Inc. New lifted its position in shares of Public Service Enterprise Group by 2.5% during the third quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 124 shares during the last quarter. Great Lakes Retirement Inc. lifted its position in shares of Public Service Enterprise Group by 0.4% during the third quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock worth $2,619,000 after purchasing an additional 127 shares during the last quarter. Finally, Brighton Jones LLC lifted its position in shares of Public Service Enterprise Group by 1.8% during the second quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock worth $548,000 after purchasing an additional 131 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on 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 directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. This represents a 0.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,783 shares of company stock worth $2,381,626. Corporate insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Trading Up 0.7 %

Public Service Enterprise Group stock opened at $90.09 on Wednesday. The firm has a 50 day simple moving average of $87.87 and a 200-day simple moving average of $80.31. 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 stock has a market capitalization of $44.89 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 3.27 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $0.85 earnings per share. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS 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. Investors of record on Tuesday, December 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.66%. Public Service Enterprise Group’s payout ratio is 58.97%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Bank of America increased their price objective on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Barclays dropped their price objective on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 price objective on the stock. Finally, LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.69.

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.