Ballentine Partners LLC Increases Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Ballentine Partners LLC boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 11.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,976 shares of the utilities provider’s stock after purchasing an additional 308 shares during the period. Ballentine Partners LLC’s holdings in Public Service Enterprise Group were worth $251,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in Public Service Enterprise Group in the 3rd quarter worth $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group in the third quarter worth about $48,000. Legacy Investment Solutions LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter worth about $59,000. Kimelman & Baird LLC purchased a new stake in Public Service Enterprise Group in the second quarter valued at approximately $66,000. Finally, Fortitude Family Office LLC increased its holdings in Public Service Enterprise Group by 325.0% in the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock worth $71,000 after buying an additional 611 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insiders Place Their Bets

In other news, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. The trade was a 1.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of the 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 sale, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,234 shares of company stock valued at $722,037 in the last 90 days. 0.57% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on PEG. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Wells Fargo & Company upped their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Scotiabank boosted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Barclays dropped their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, UBS Group boosted their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $89.17.

Read Our Latest Stock Report on PEG

Public Service Enterprise Group Stock Down 0.1 %

Shares of NYSE PEG opened at $88.04 on Friday. The firm has a market cap of $43.86 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 2.82 and a beta of 0.65. The company’s 50-day simple moving average is $87.80 and its 200-day simple moving average is $84.86. 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 52-week low of $56.91 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The company had revenue of $2.64 billion during 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%. Public Service Enterprise Group’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 EPS. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were issued a $0.60 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.73%. Public Service Enterprise Group’s payout ratio is currently 58.97%.

About Public Service Enterprise Group

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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