Castleton Investment Management LLC purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 210,579 shares of the utilities provider’s stock, valued at approximately $9,739,000. Public Service Enterprise Group accounts for approximately 3.6% of Castleton Investment Management LLC’s investment portfolio, making the stock its 11th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Federated Investors Inc. PA lifted its holdings in Public Service Enterprise Group by 179.9% in the second quarter. Federated Investors Inc. PA now owns 6,711,861 shares of the utilities provider’s stock valued at $288,677,000 after acquiring an additional 4,314,015 shares during the period. BT Investment Management Ltd acquired a new stake in Public Service Enterprise Group in the second quarter valued at $84,819,000. Balyasny Asset Management LLC lifted its holdings in Public Service Enterprise Group by 413.1% in the second quarter. Balyasny Asset Management LLC now owns 1,986,751 shares of the utilities provider’s stock valued at $85,450,000 after acquiring an additional 1,599,583 shares during the period. Ameriprise Financial Inc. lifted its holdings in Public Service Enterprise Group by 239.4% in the third quarter. Ameriprise Financial Inc. now owns 2,187,901 shares of the utilities provider’s stock valued at $101,190,000 after acquiring an additional 1,543,256 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its holdings in Public Service Enterprise Group by 179.3% in the second quarter. BNP Paribas Arbitrage SA now owns 2,160,960 shares of the utilities provider’s stock valued at $92,943,000 after acquiring an additional 1,387,377 shares during the period. 66.77% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Incorporated (PEG) traded down $0.21 during trading hours on Wednesday, hitting $52.68. The stock had a trading volume of 4,876,300 shares, compared to its average volume of 2,801,660. The firm has a market cap of $26,764.39, a P/E ratio of 18.24, a PEG ratio of 6.61 and a beta of 0.41. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 0.86. Public Service Enterprise Group Incorporated has a fifty-two week low of $41.14 and a fifty-two week high of $53.28.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Thursday, December 7th. Public Service Enterprise Group’s dividend payout ratio is presently 166.99%.

A number of equities research analysts have commented on the company. Zacks Investment Research downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Wells Fargo & Company raised Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 1st. Argus raised their target price on Public Service Enterprise Group from $51.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Bank of America assumed coverage on Public Service Enterprise Group in a report on Tuesday, October 24th. They issued a “neutral” rating and a $49.00 target price for the company. Finally, J P Morgan Chase & Co raised their target price on Public Service Enterprise Group from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $50.42.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 79,920 shares of Public Service Enterprise Group stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $48.83, for a total value of $3,902,493.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Derek M. Dirisio sold 2,185 shares of Public Service Enterprise Group stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $51.50, for a total value of $112,527.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 263,951 shares of company stock valued at $13,045,041. 0.61% of the stock is currently owned by company insiders.

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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.

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

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