Caprock Group LLC Sells 167 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Caprock Group LLC trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,011 shares of the utilities provider’s stock after selling 167 shares during the quarter. Caprock Group LLC’s holdings in Public Service Enterprise Group were worth $358,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New England Asset Management Inc. raised its stake in shares of Public Service Enterprise Group by 3.0% in the 3rd quarter. New England Asset Management Inc. now owns 90,118 shares of the utilities provider’s stock valued at $8,039,000 after buying an additional 2,605 shares in the last quarter. OneAscent Wealth Management LLC acquired a new position in Public Service Enterprise Group in the third quarter worth about $280,000. Capital City Trust Co. FL raised its position in Public Service Enterprise Group by 0.9% in the third quarter. Capital City Trust Co. FL now owns 47,221 shares of the utilities provider’s stock worth $4,213,000 after purchasing an additional 419 shares in the last quarter. Planning Directions Inc. bought a new position in Public Service Enterprise Group during the third quarter worth about $232,000. Finally, Kayne Anderson Capital Advisors LP grew its stake in shares of Public Service Enterprise Group by 12.7% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 133,102 shares of the utilities provider’s stock valued at $11,874,000 after purchasing an additional 15,045 shares during the period. 73.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wells Fargo & Company raised their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group lifted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. BMO Capital Markets lifted 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 report on Monday, October 21st. Finally, Barclays reduced their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.69.

Insider Activity

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Tamara Louise Linde sold 9,564 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total value of $866,594.04. Following the transaction, the executive vice president now owns 48,397 shares in the company, valued at approximately $4,385,252.17. This trade represents a 16.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,739 shares of company stock valued at $2,467,753 in the last 90 days. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group Trading Up 0.1 %

Shares of PEG opened at $92.40 on Friday. The stock’s fifty day simple moving average is $88.38 and its 200-day simple moving average is $80.67. The firm has a market capitalization of $46.04 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 3.39 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $93.00. 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 issued its 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. 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%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current 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. This represents a $2.40 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is 58.97%.

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.