Public Service Enterprise Group Inc. (NYSE:PEG) Shares Bought by Motco

Motco lifted its position in Public Service Enterprise Group Inc. (NYSE:PEG) by 6.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,010 shares of the utilities provider’s stock after acquiring an additional 7,129 shares during the quarter. Motco’s holdings in Public Service Enterprise Group were worth $7,326,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PEG. Vanguard Group Inc. raised its stake in shares of Public Service Enterprise Group by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 41,902,158 shares of the utilities provider’s stock worth $2,464,685,000 after buying an additional 1,129,724 shares in the last quarter. Northern Trust Corp lifted its position in shares of Public Service Enterprise Group by 2.2% during the 2nd quarter. Northern Trust Corp now owns 6,303,262 shares of the utilities provider’s stock worth $370,758,000 after purchasing an additional 136,854 shares during the last quarter. Zimmer Partners LP lifted its position in shares of Public Service Enterprise Group by 11.9% during the 2nd quarter. Zimmer Partners LP now owns 4,525,827 shares of the utilities provider’s stock worth $266,209,000 after purchasing an additional 481,107 shares during the last quarter. Pictet Asset Management Ltd. lifted its position in shares of Public Service Enterprise Group by 14.8% during the 2nd quarter. Pictet Asset Management Ltd. now owns 4,348,826 shares of the utilities provider’s stock worth $255,798,000 after purchasing an additional 562,238 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Public Service Enterprise Group by 11.0% during the 3rd quarter. California Public Employees Retirement System now owns 4,216,542 shares of the utilities provider’s stock worth $261,763,000 after purchasing an additional 418,164 shares during the last quarter. Institutional investors and hedge funds own 69.28% of the company’s stock.

Several equities analysts recently weighed in on PEG shares. UBS Group boosted their price objective on Public Service Enterprise Group from $67.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. ValuEngine lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Barclays started coverage on Public Service Enterprise Group in a research report on Tuesday, August 13th. They issued an “overweight” rating and a $63.00 price objective on the stock. Bank of America lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research report on Friday, July 19th. Finally, Citigroup lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective on the stock. in a research report on Monday, July 29th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Public Service Enterprise Group has an average rating of “Hold” and a consensus price target of $63.16.

Public Service Enterprise Group stock traded down $0.60 during mid-day trading on Monday, hitting $60.83. 46,085 shares of the company’s stock were exchanged, compared to its average volume of 2,475,536. The firm has a market capitalization of $31.31 billion, a P/E ratio of 19.51, a PEG ratio of 5.16 and a beta of 0.28. Public Service Enterprise Group Inc. has a fifty-two week low of $49.22 and a fifty-two week high of $63.88. The company has a quick ratio of 0.52, a current ratio of 0.75 and a debt-to-equity ratio of 0.99. The company’s 50 day simple moving average is $62.17 and its 200-day simple moving average is $60.20.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.03. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.55 billion. Public Service Enterprise Group had a return on equity of 11.01% and a net margin of 14.45%. During the same quarter last year, the business posted $0.95 EPS. Research analysts expect that Public Service Enterprise Group Inc. will post 3.25 EPS for the current year.

In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 2,176 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $60.08, for a total transaction of $130,734.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Daniel J. Cregg sold 625 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $57.33, for a total value of $35,831.25. The disclosure for this sale can be found here. Insiders have sold a total of 9,201 shares of company stock worth $561,770 in the last ninety days. 0.51% of the stock is currently owned by company insiders.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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

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