Worldquant Millennium Advisors LLC Buys Shares of 6,273 Public Service Enterprise Group Incorporated (NYSE:PEG)

Worldquant Millennium Advisors LLC acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,273 shares of the utilities provider’s stock, valued at approximately $560,000.

A number of other institutional investors also recently modified their holdings of the company. Heritage Wealth Management Inc. acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $422,000. DRW Securities LLC acquired a new stake in Public Service Enterprise Group in the 3rd quarter valued at $8,244,000. Cerity Partners LLC lifted its position in Public Service Enterprise Group by 36.1% during the 3rd quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock worth $8,575,000 after buying an additional 25,503 shares in the last quarter. Czech National Bank boosted its stake in shares of Public Service Enterprise Group by 8.3% during the 2nd quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock worth $6,995,000 after buying an additional 7,235 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at about $2,965,000. 73.34% of the stock is currently owned by institutional investors.

Insider Activity at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the sale, the executive vice president now owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the transaction, the chief executive officer now owns 147,514 shares in the company, valued at approximately $13,305,762.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,798 shares of company stock worth $1,595,921 in the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Evercore ISI lifted their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Morgan Stanley increased their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Bank of America lifted their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, BMO Capital Markets upped their price target on shares of 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. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.08.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $90.00 on Monday. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $95.22. The firm has a market capitalization of $44.84 billion, a P/E ratio of 22.11, a P/E/G ratio of 3.37 and a beta of 0.62. 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 company’s 50 day moving average price is $89.65 and its two-hundred day moving average price is $82.03.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts forecast 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

About Public Service Enterprise Group

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.