Intech Investment Management LLC Has $2.62 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Intech Investment Management LLC grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 58.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,352 shares of the utilities provider’s stock after acquiring an additional 10,850 shares during the period. Intech Investment Management LLC’s holdings in Public Service Enterprise Group were worth $2,618,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Public Service Enterprise Group by 10.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 137,423 shares of the utilities provider’s stock worth $12,259,000 after purchasing an additional 12,593 shares during the period. Advisors Asset Management Inc. grew its holdings in Public Service Enterprise Group by 16.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,433 shares of the utilities provider’s stock valued at $931,000 after buying an additional 1,453 shares in the last quarter. Howe & Rusling Inc. bought a new position in Public Service Enterprise Group during the 3rd quarter worth $488,000. Jennison Associates LLC lifted its holdings in shares of Public Service Enterprise Group by 79.5% during the third quarter. Jennison Associates LLC now owns 1,502,136 shares of the utilities provider’s stock worth $134,006,000 after buying an additional 665,105 shares in the last quarter. Finally, Commerce Bank lifted its holdings in shares of Public Service Enterprise Group by 2.9% during the third quarter. Commerce Bank now owns 44,879 shares of the utilities provider’s stock worth $4,004,000 after buying an additional 1,261 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. BMO Capital Markets raised their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Morgan Stanley raised their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Evercore ISI lifted their price target 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. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Bank of America lifted their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned 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 an average price target of $86.69.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the sale, the executive vice president now directly owns 57,961 shares in the company, valued at approximately $4,610,217.94. The trade was a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,739 shares of company stock valued at $2,467,753 in the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Up 0.1 %

PEG stock opened at $92.40 on Friday. The firm has a 50-day moving average price of $88.38 and a 200-day moving average price of $80.67. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $93.00. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $46.04 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 3.39 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 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 the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 EPS. As a group, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 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 Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.60%. Public Service Enterprise Group’s dividend payout ratio is currently 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.