Kayne Anderson Capital Advisors LP Acquires 15,045 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Kayne Anderson Capital Advisors LP lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 133,102 shares of the utilities provider’s stock after buying an additional 15,045 shares during the period. Public Service Enterprise Group comprises 0.3% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 28th largest holding. Kayne Anderson Capital Advisors LP’s holdings in Public Service Enterprise Group were worth $11,874,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PEG. Heritage Wealth Management Inc. purchased a new position in Public Service Enterprise Group during the second quarter worth $422,000. QRG Capital Management Inc. grew its stake in shares of Public Service Enterprise Group by 28.0% during the second quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock valued at $5,227,000 after buying an additional 15,505 shares during the last quarter. CWM LLC lifted its stake in shares of Public Service Enterprise Group by 72.3% during the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock worth $1,532,000 after acquiring an additional 8,723 shares during the last quarter. Czech National Bank boosted its stake in shares of Public Service Enterprise Group by 8.3% during the second quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock valued at $6,995,000 after purchasing an additional 7,235 shares during the period. Finally, Colonial River Investments LLC bought a new position in shares of Public Service Enterprise Group in the third quarter worth about $634,000. 73.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the sale, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. This represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,783 shares of company stock valued at $2,381,626. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $88.99 on Monday. 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 $56.85 and a 52-week high of $92.20. The stock has a 50 day moving average price of $87.50 and a 200 day moving average price of $80.03. The company has a market capitalization of $44.34 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 3.27 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion for 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%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 earnings per share. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Evercore ISI upped their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Jefferies Financial Group began coverage on Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 target price for the company. Barclays cut their price target 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. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Finally, Morgan Stanley lifted their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.69.

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.