Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,502 shares of the utilities provider’s stock after purchasing an additional 1,449 shares during the quarter. Intech Investment Management LLC’s holdings in Public Service Enterprise Group were worth $1,364,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Family Firm Inc. acquired a new stake in shares of Public Service Enterprise Group in the second quarter worth $33,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group during the 2nd quarter worth $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group in the 1st quarter valued at $36,000. Salomon & Ludwin LLC raised its position in Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 560 shares during the period. Finally, Scarborough Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Activity

In related news, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the sale, the executive vice president now owns 57,961 shares in the company, valued at $4,610,217.94. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 approximately $12,014,095.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tamara Louise Linde sold 9,563 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the sale, the executive vice president now owns 57,961 shares in the company, valued at approximately $4,610,217.94. The disclosure for this sale can be found here. In the last three months, insiders sold 30,068 shares of company stock valued at $2,406,965. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 target price for the company. BMO Capital Markets increased their price objective on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Morgan Stanley raised their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday. Finally, Barclays boosted their price objective on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $81.46.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $87.73 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. The stock has a market capitalization of $43.70 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 3.09 and a beta of 0.60. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $88.86. The company’s 50-day simple moving average is $80.23 and its 200-day simple moving average is $73.99.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $0.70 EPS. Public Service Enterprise Group’s revenue was up .1% compared to the same quarter last year. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a $0.60 dividend. The ex-dividend date is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.74%. Public Service Enterprise Group’s payout ratio is currently 66.48%.

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.