Quantinno Capital Management LP Buys 11,604 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Quantinno Capital Management LP lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 31.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,793 shares of the utilities provider’s stock after buying an additional 11,604 shares during the period. Quantinno Capital Management LP’s holdings in Public Service Enterprise Group were worth $4,353,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Family Firm Inc. acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at approximately $33,000. OFI Invest Asset Management bought a new position in Public Service Enterprise Group in the second quarter worth $35,000. Ashton Thomas Securities LLC acquired a new stake in Public Service Enterprise Group during the third quarter worth $35,000. Northwest Investment Counselors LLC bought a new stake in Public Service Enterprise Group in the 3rd quarter valued at $48,000. Finally, Friedenthal Financial acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at $52,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG opened at $90.00 on Friday. 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 $44.84 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 3.37 and a beta of 0.62. The company’s 50 day simple moving average is $89.65 and its 200-day simple moving average is $81.98. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the company earned $0.85 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.60 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.67%. Public Service Enterprise Group’s payout ratio is presently 58.97%.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of analyst reports. Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Scotiabank raised their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Evercore ISI upped their price target on 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. 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, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average target price of $88.08.

Insider Activity

In other Public Service Enterprise Group news, 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 value of $760,641.02. Following the transaction, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. This trade represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction 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 sale, the chief operating officer now owns 70,011 shares of the company’s stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,361 shares of company stock valued at $2,356,562. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group 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.