Fisher Asset Management LLC Acquires 283 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Fisher Asset Management LLC boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,342 shares of the utilities provider’s stock after purchasing an additional 283 shares during the period. Fisher Asset Management LLC’s holdings in Public Service Enterprise Group were worth $655,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PEG. Family Firm Inc. bought a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $33,000. OFI Invest Asset Management bought a new position in shares of Public Service Enterprise Group during the second quarter valued at $35,000. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth about $48,000. Finally, Country Trust Bank acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth about $52,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PEG. Bank of America upped 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. Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 price target for the company. UBS Group increased their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Evercore ISI lifted their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company increased their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $86.69.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. This represents a 0.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the transaction, the executive vice president now owns 57,961 shares in the company, valued at approximately $4,610,217.94. This represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,739 shares of company stock valued at $2,467,753. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $94.30 on Friday. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $95.22. 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 stock has a market capitalization of $46.98 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 3.46 and a beta of 0.61. The firm has a fifty day moving average of $89.31 and a two-hundred day moving average of $81.39.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion for 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%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. As a group, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is presently 58.97%.

Public Service Enterprise Group Company 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.