Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 26.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,306 shares of the utilities provider’s stock after purchasing an additional 3,461 shares during the period. Tidal Investments LLC’s holdings in Public Service Enterprise Group were worth $1,455,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Old Port Advisors raised its stake in Public Service Enterprise Group by 0.5% in the third quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock valued at $2,099,000 after buying an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC raised its position in shares of Public Service Enterprise Group by 1.3% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock valued at $827,000 after purchasing an additional 115 shares during the last quarter. First Commonwealth Financial Corp PA boosted its stake in Public Service Enterprise Group by 1.3% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock worth $842,000 after purchasing an additional 123 shares in the last quarter. Cigna Investments Inc. New grew its position in Public Service Enterprise Group by 2.5% during the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 124 shares during the last quarter. Finally, Great Lakes Retirement Inc. grew its position in Public Service Enterprise Group by 0.4% during the 3rd quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock worth $2,619,000 after purchasing an additional 127 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $82.98 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The company has a 50 day moving average price of $88.88 and a 200-day moving average price of $82.62. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $95.22. The firm has a market cap of $41.34 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 3.18 and a beta of 0.62.

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 for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.89%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Analyst Ratings Changes

Several equities research analysts have recently commented on PEG shares. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Morgan Stanley boosted their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Jefferies Financial Group began coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 price objective for the company. Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Scotiabank increased their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.17.

Insider Buying and Selling at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the sale, the chief operating officer now owns 70,011 shares in the company, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,798 shares of company stock valued at $1,595,921. Company insiders own 0.57% of the company’s stock.

About Public Service Enterprise Group

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.