Capital Investment Counsel LLC Has $6.06 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Capital Investment Counsel LLC boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 46.6% during the third quarter, Holdings Channel reports. The institutional investor owned 67,948 shares of the utilities provider’s stock after acquiring an additional 21,589 shares during the quarter. Capital Investment Counsel LLC’s holdings in Public Service Enterprise Group were worth $6,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of PEG. Family Firm Inc. acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $33,000. OFI Invest Asset Management bought a new position in shares of Public Service Enterprise Group in the second quarter valued at about $35,000. Ashton Thomas Securities LLC acquired a new position in shares of Public Service Enterprise Group during the third quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter worth $48,000. Finally, Country Trust Bank bought a new position in Public Service Enterprise Group in the 2nd quarter valued at $52,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.1 %

NYSE PEG opened at $92.40 on Friday. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $93.00. 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 firm has a market cap of $46.04 billion, a P/E ratio of 22.70, a P/E/G ratio of 3.39 and a beta of 0.61. The stock’s 50-day moving average is $88.38 and its 200-day moving average is $80.67.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data 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. 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 the consensus estimate of $2.44 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.60%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PEG shares. Wells Fargo & Company boosted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 target price on the stock. Barclays dropped their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Morgan Stanley lifted their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, BMO Capital Markets increased their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the 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 represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,739 shares of company stock valued at $2,467,753 over the last three months. 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.