Welch & Forbes LLC grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 23.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,712 shares of the utilities provider’s stock after purchasing an additional 1,276 shares during the period. Welch & Forbes LLC’s holdings in Public Service Enterprise Group were worth $310,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PEG. Grove Bank & Trust boosted its position in shares of Public Service Enterprise Group by 209.4% during the 3rd quarter. Grove Bank & Trust now owns 2,274 shares of the utilities provider’s stock worth $105,000 after purchasing an additional 1,539 shares in the last quarter. Hudock Capital Group LLC boosted its position in shares of Public Service Enterprise Group by 38.8% during the 2nd quarter. Hudock Capital Group LLC now owns 2,629 shares of the utilities provider’s stock worth $113,000 after purchasing an additional 735 shares in the last quarter. Vantage Investment Advisors LLC boosted its position in shares of Public Service Enterprise Group by 35.3% in the 2nd quarter. Vantage Investment Advisors LLC now owns 2,685 shares of the utilities provider’s stock worth $115,000 after buying an additional 700 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Public Service Enterprise Group by 6.0% in the 2nd quarter. Parallel Advisors LLC now owns 2,772 shares of the utilities provider’s stock worth $125,000 after buying an additional 157 shares in the last quarter. Finally, IHT Wealth Management LLC boosted its position in shares of Public Service Enterprise Group by 45.9% in the 2nd quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock worth $131,000 after buying an additional 202 shares in the last quarter. Institutional investors own 66.77% of the company’s stock.

In other news, Chairman Ralph Izzo sold 20,833 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $46.50, for a total transaction of $968,734.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Ralph A. Larossa sold 33,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $50.12, for a total transaction of $1,653,960.00. Following the transaction, the chief operating officer now directly owns 81,241 shares of the company’s stock, valued at approximately $4,071,798.92. The disclosure for this sale can be found here. Insiders sold a total of 243,118 shares of company stock valued at $11,942,975 in the last three months. 0.61% of the stock is currently owned by corporate insiders.

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) remained flat at $$53.07 during mid-day trading on Friday. 3,490,000 shares of the stock were exchanged, compared to its average volume of 3,046,344. Public Service Enterprise Group Incorporated has a 1 year low of $40.72 and a 1 year high of $53.28. The stock has a market cap of $26,850.42, a price-to-earnings ratio of 18.30, a P/E/G ratio of 6.63 and a beta of 0.40. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 0.86.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.02). Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the firm posted $0.88 EPS. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. equities analysts expect that Public Service Enterprise Group Incorporated will post 2.92 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.24%. The ex-dividend date is Thursday, December 7th. Public Service Enterprise Group’s payout ratio is 166.99%.

Several equities research analysts recently commented on PEG shares. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Tuesday, October 10th. BidaskClub upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Argus boosted their price objective on shares of Public Service Enterprise Group from $51.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Wells Fargo & Company upgraded shares of Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 1st. Finally, Bank of America started coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $49.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $50.42.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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