Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,951,631 shares of the utilities provider’s stock after purchasing an additional 19,650 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Public Service Enterprise Group were worth $263,315,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PEG. Natixis acquired a new position in Public Service Enterprise Group in the first quarter valued at approximately $160,000. CreativeOne Wealth LLC acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter worth about $268,000. Canada Pension Plan Investment Board raised its holdings in Public Service Enterprise Group by 6.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 746,592 shares of the utilities provider’s stock valued at $49,857,000 after buying an additional 48,148 shares during the period. BOKF NA lifted its position in Public Service Enterprise Group by 3.5% in the first quarter. BOKF NA now owns 145,457 shares of the utilities provider’s stock valued at $9,693,000 after buying an additional 4,943 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Public Service Enterprise Group by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 678,836 shares of the utilities provider’s stock worth $45,333,000 after buying an additional 4,941 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s 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 sale, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. This trade represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,739 shares of company stock valued at $2,467,753. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Up 0.0 %

Shares of Public Service Enterprise Group stock opened at $92.39 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. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $93.00. The company has a market capitalization of $46.03 billion, a P/E ratio of 22.70, a P/E/G ratio of 3.39 and a beta of 0.61. The company has a 50 day moving average of $88.38 and a 200 day moving average of $80.61.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $0.85 EPS. As a group, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.60%. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Analyst Ratings Changes

PEG has been the topic of several recent analyst reports. Bank of America upped their price objective on shares of 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 upped their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Morgan Stanley increased their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, Scotiabank raised their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.