Kayne Anderson Capital Advisors LP Purchases 15,045 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Kayne Anderson Capital Advisors LP lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,102 shares of the utilities provider’s stock after purchasing an additional 15,045 shares during the period. Public Service Enterprise Group accounts for about 0.3% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 28th biggest position. Kayne Anderson Capital Advisors LP’s holdings in Public Service Enterprise Group were worth $11,874,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Heritage Wealth Management Inc. bought a new position in shares of Public Service Enterprise Group in the second quarter valued at approximately $422,000. QRG Capital Management Inc. grew its position in Public Service Enterprise Group by 28.0% during the second quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock valued at $5,227,000 after buying an additional 15,505 shares during the period. CWM LLC grew its position in shares of Public Service Enterprise Group by 72.3% during the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock valued at $1,532,000 after acquiring an additional 8,723 shares during the period. Czech National Bank increased its stake in shares of Public Service Enterprise Group by 8.3% during the 2nd quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock worth $6,995,000 after purchasing an additional 7,235 shares during the last quarter. Finally, Colonial River Investments LLC bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $634,000. 73.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PEG has been the subject of several research reports. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Morgan Stanley boosted their price objective 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. UBS Group increased their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group assumed 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, Scotiabank raised their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $86.69.

Insider Buying and Selling at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the sale, the executive vice president now owns 48,397 shares of the company’s stock, valued at $4,385,252.17. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at $2,271,660.55. The trade was a 18.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,783 shares of company stock worth $2,381,626. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Price Performance

PEG opened at $88.99 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a market capitalization of $44.34 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 3.27 and a beta of 0.61. The stock’s 50 day moving average price is $87.50 and its 200-day moving average price is $80.03. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results 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 firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 EPS. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

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.