3,584 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Purchased by Continental Investors Services Inc.

Continental Investors Services Inc. acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) in the 3rd quarter, HoldingsChannel reports. The fund acquired 3,584 shares of the utilities provider’s stock, valued at approximately $231,000.

Several other large investors also recently added to or reduced their stakes in PEG. BlackRock Inc. increased its position in shares of Public Service Enterprise Group by 5.0% in the third quarter. BlackRock Inc. now owns 54,426,510 shares of the utilities provider’s stock worth $3,060,399,000 after purchasing an additional 2,576,034 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Public Service Enterprise Group by 24.4% during the second quarter. Legal & General Group Plc now owns 6,965,031 shares of the utilities provider’s stock valued at $440,749,000 after purchasing an additional 1,363,974 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Public Service Enterprise Group by 48.8% during the second quarter. Goldman Sachs Group Inc. now owns 4,089,778 shares of the utilities provider’s stock valued at $258,802,000 after purchasing an additional 1,341,818 shares during the period. Prudential Financial Inc. boosted its stake in shares of Public Service Enterprise Group by 196.2% during the first quarter. Prudential Financial Inc. now owns 1,892,166 shares of the utilities provider’s stock valued at $132,451,000 after purchasing an additional 1,253,283 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Public Service Enterprise Group by 2.7% during the first quarter. Vanguard Group Inc. now owns 43,654,799 shares of the utilities provider’s stock valued at $3,055,836,000 after purchasing an additional 1,159,331 shares during the period. Hedge funds and other institutional investors own 70.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. StockNews.com assumed coverage on Public Service Enterprise Group in a research note on Thursday. They issued a “hold” rating for the company. Guggenheim dropped their price target on Public Service Enterprise Group from $71.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, February 22nd. TheStreet raised Public Service Enterprise Group from a “c” rating to a “b” rating in a research note on Tuesday, February 21st. Morgan Stanley dropped their price target on Public Service Enterprise Group from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, February 22nd. Finally, Mizuho dropped their price target on Public Service Enterprise Group from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Monday. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $67.20.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $59.18 on Friday. Public Service Enterprise Group Incorporated has a 1-year low of $52.51 and a 1-year high of $75.61. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.64 and a quick ratio of 0.50. The business has a fifty day moving average price of $60.82 and a 200-day moving average price of $60.23. The company has a market capitalization of $29.52 billion, a PE ratio of 28.73, a PEG ratio of 7.05 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The utilities provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. Public Service Enterprise Group had a return on equity of 12.88% and a net margin of 10.52%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period last year, the company earned $0.69 EPS. Public Service Enterprise Group’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.43 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 10th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.85%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, March 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 110.68%.

Insider Buying and Selling

In related news, COO Eric Carr sold 7,105 shares of Public Service Enterprise Group stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $57.63, for a total value of $409,461.15. Following the completion of the sale, the chief operating officer now directly owns 6,482 shares in the company, valued at approximately $373,557.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is owned by corporate insiders.

Public Service Enterprise Group Profile

(Get Rating)

Public Service Enterprise Group, Inc is an energy company, which engages in the business of regulated electric and gas utility, and nuclear generation. Its products and services include energy, capacity, ancillary services, and emissions allowances and congestion credits. The firm operates through the Public Service Electric and Gas Company (PSE&G) and PSEG Power segments.