BB&T Securities LLC Raises Stake in Public Service Enterprise Group Incorporated (PEG)

BB&T Securities LLC lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 21.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 126,815 shares of the utilities provider’s stock after acquiring an additional 22,337 shares during the quarter. BB&T Securities LLC’s holdings in Public Service Enterprise Group were worth $5,864,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Equity Investment Corp purchased a new position in shares of Public Service Enterprise Group during the third quarter worth approximately $216,000. Tiedemann Wealth Management LLC increased its position in shares of Public Service Enterprise Group by 12.6% during the third quarter. Tiedemann Wealth Management LLC now owns 95,036 shares of the utilities provider’s stock worth $4,057,000 after acquiring an additional 10,623 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Public Service Enterprise Group by 2.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,820,918 shares of the utilities provider’s stock worth $84,218,000 after acquiring an additional 35,284 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Public Service Enterprise Group by 1.6% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,292,473 shares of the utilities provider’s stock worth $59,777,000 after acquiring an additional 20,105 shares during the period. Finally, Grove Bank & Trust increased its position in shares of Public Service Enterprise Group by 209.4% during the third quarter. Grove Bank & Trust now owns 2,274 shares of the utilities provider’s stock worth $105,000 after acquiring an additional 1,539 shares during the period. 66.77% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Incorporated (PEG) remained flat at $$53.07 during midday trading on Friday. The company’s stock had a trading volume of 3,490,000 shares, compared to its average volume of 3,046,344. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.80 and a quick ratio of 0.56. Public Service Enterprise Group Incorporated has a 52-week low of $40.72 and a 52-week high of $53.28. The firm has a market capitalization of $26,855.49, a PE ratio of 18.30, a price-to-earnings-growth ratio of 6.63 and a beta of 0.40.

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 Thomson Reuters’ consensus estimate of $0.84 by ($0.02). Public Service Enterprise Group had a return on equity of 11.33% and a net margin of 5.73%. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the prior year, the firm posted $0.88 earnings per share. Public Service Enterprise Group’s revenue for the quarter was down 7.6% compared to the same quarter last year. equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 2.92 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be issued 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 dividend payout ratio is currently 166.99%.

In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 2,185 shares of Public Service Enterprise Group stock in a transaction on Friday, November 17th. The shares were sold at an average price of $51.50, for a total value of $112,527.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Ralph Izzo sold 20,833 shares of Public Service Enterprise Group stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $46.50, for a total transaction of $968,734.50. The disclosure for this sale can be found here. Insiders sold 243,118 shares of company stock worth $11,942,975 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Several brokerages recently issued reports on PEG. Morgan Stanley lifted their price objective on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Citigroup reissued a “neutral” rating and set a $49.00 price objective (up from $44.00) on shares of Public Service Enterprise Group in a report on Thursday, August 10th. Barclays raised shares of Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $49.00 to $51.00 in a report on Friday, September 22nd. Zacks Investment Research lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Monday, September 25th. Finally, Mizuho raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $44.50 to $50.00 in a report on Friday, August 11th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $50.42.

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Public Service Enterprise Group 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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