Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,672,041 shares of the utilities provider’s stock after selling 39,722 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Public Service Enterprise Group were worth $327,583,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PEG. Ashton Thomas Securities LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at $35,000. Family Firm Inc. purchased a new position in Public Service Enterprise Group during the second quarter worth $33,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group during the 2nd quarter worth about $35,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group in the 3rd quarter valued at about $48,000. Finally, Country Trust Bank purchased a new position in Public Service Enterprise Group in the 2nd quarter valued at about $52,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 2.1 %

Shares of NYSE PEG opened at $92.35 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The stock’s 50 day moving average price is $88.21 and its two-hundred day moving average price is $80.46. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $92.41. The stock has a market capitalization of $46.01 billion, a P/E ratio of 22.69, a PEG ratio of 3.31 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the firm posted $0.85 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued 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 is Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Insider Activity

In related news, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the sale, the executive vice president now owns 57,961 shares in the company, valued at approximately $4,610,217.94. This represents a 14.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. The trade was a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,739 shares of company stock valued at $2,467,753. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Bank of America raised their price objective 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. BMO Capital Markets increased their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 price target on the stock. Finally, Evercore ISI lifted their target price 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. 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.69.

Public Service Enterprise Group 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.