ETRADE Capital Management LLC increased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 21.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,692 shares of the utilities provider’s stock after purchasing an additional 8,409 shares during the quarter. ETRADE Capital Management LLC’s holdings in Public Service Enterprise Group were worth $2,206,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Premier Asset Management LLC lifted its holdings in shares of Public Service Enterprise Group by 0.6% during the second quarter. Premier Asset Management LLC now owns 5,356 shares of the utilities provider’s stock valued at $230,000 after acquiring an additional 31 shares during the period. Wsfs Capital Management LLC lifted its holdings in shares of Public Service Enterprise Group by 0.5% during the second quarter. Wsfs Capital Management LLC now owns 9,123 shares of the utilities provider’s stock valued at $392,000 after acquiring an additional 44 shares during the period. Advisor Partners LLC lifted its holdings in shares of Public Service Enterprise Group by 0.5% during the second quarter. Advisor Partners LLC now owns 10,106 shares of the utilities provider’s stock valued at $435,000 after acquiring an additional 48 shares during the period. FCG Advisors LLC lifted its holdings in shares of Public Service Enterprise Group by 0.4% during the second quarter. FCG Advisors LLC now owns 12,005 shares of the utilities provider’s stock valued at $516,000 after acquiring an additional 52 shares during the period. Finally, ING Groep NV lifted its holdings in shares of Public Service Enterprise Group by 0.3% during the second quarter. ING Groep NV now owns 25,906 shares of the utilities provider’s stock valued at $1,114,000 after acquiring an additional 69 shares during the period. 66.33% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Incorporated (PEG) traded up $0.13 during trading on Monday, hitting $51.56. The company had a trading volume of 1,991,300 shares, compared to its average volume of 2,764,356. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.80 and a quick ratio of 0.56. Public Service Enterprise Group Incorporated has a fifty-two week low of $40.72 and a fifty-two week high of $52.12. The company has a market capitalization of $26,091.37, a PE ratio of 17.78, a price-to-earnings-growth ratio of 6.44 and a beta of 0.39.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.02). Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the firm earned $0.88 earnings per share. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. equities analysts predict that Public Service Enterprise Group Incorporated will post 2.92 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.34%. Public Service Enterprise Group’s dividend payout ratio is 166.99%.

A number of brokerages have issued reports on PEG. Zacks Investment Research cut Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Jefferies Group LLC reissued a “hold” rating and set a $46.50 price objective on shares of Public Service Enterprise Group in a report on Thursday, October 12th. Barclays PLC raised Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $49.00 to $51.00 in a report on Friday, September 22nd. Morgan Stanley lifted their price objective on Public Service Enterprise Group from $50.00 to $51.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $47.00 price objective on shares of Public Service Enterprise Group in a report on Tuesday, October 10th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Public Service Enterprise Group has an average rating of “Buy” and an average price target of $50.42.

In related news, Chairman Ralph Izzo sold 79,920 shares of Public Service Enterprise Group stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $48.83, for a total value of $3,902,493.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Derek M. Dirisio sold 2,185 shares of Public Service Enterprise Group stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $51.50, for a total value of $112,527.50. The disclosure for this sale can be found here. Insiders sold 243,118 shares of company stock valued at $11,942,975 over the last ninety days. 0.61% of the stock is currently owned by company insiders.

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About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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