Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 125.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,384,803 shares of the utilities provider’s stock after purchasing an additional 1,882,667 shares during the period. Jennison Associates LLC’s holdings in Public Service Enterprise Group were worth $285,982,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Old Port Advisors increased its stake in shares of Public Service Enterprise Group by 0.5% in the third quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock worth $2,099,000 after buying an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC grew its holdings in Public Service Enterprise Group by 1.3% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock worth $827,000 after acquiring an additional 115 shares in the last quarter. Spire Wealth Management increased its position in shares of Public Service Enterprise Group by 2.4% in the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock worth $440,000 after purchasing an additional 121 shares during the last quarter. First Commonwealth Financial Corp PA raised its stake in shares of Public Service Enterprise Group by 1.3% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock valued at $842,000 after purchasing an additional 123 shares in the last quarter. Finally, Cigna Investments Inc. New lifted its position in shares of Public Service Enterprise Group by 2.5% during the third quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares in the company, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction that occurred 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 directly owns 25,829 shares in the company, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,234 shares of company stock valued at $722,037 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Stock Down 0.3 %

PEG stock opened at $83.57 on Monday. The stock has a market cap of $41.64 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. The firm’s 50-day simple moving average is $86.97 and its 200 day simple moving average is $85.24. Public Service Enterprise Group Incorporated has a fifty-two week low of $57.24 and a fifty-two week high of $95.22. 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 (NYSE:PEG) last announced its quarterly earnings results 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 company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 earnings per share. As a group, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.87%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Analyst Upgrades and Downgrades

PEG has been the subject of several research analyst reports. Scotiabank boosted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Evercore ISI boosted their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. UBS Group lifted their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets increased their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.83.

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.