Public Service Enterprise Group Incorporated (NYSE:PEG) Position Boosted by Forsta AP Fonden

Forsta AP Fonden raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 207,700 shares of the utilities provider’s stock after purchasing an additional 1,900 shares during the period. Forsta AP Fonden’s holdings in Public Service Enterprise Group were worth $18,529,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its stake in shares of Public Service Enterprise Group by 2.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 73,833 shares of the utilities provider’s stock valued at $4,931,000 after buying an additional 1,555 shares in the last quarter. SteelPeak Wealth LLC grew its stake in shares of Public Service Enterprise Group by 15.2% in the 1st quarter. SteelPeak Wealth LLC now owns 7,564 shares of the utilities provider’s stock valued at $505,000 after buying an additional 1,000 shares in the last quarter. LVW Advisors LLC grew its stake in shares of Public Service Enterprise Group by 27.6% in the 1st quarter. LVW Advisors LLC now owns 8,049 shares of the utilities provider’s stock valued at $538,000 after buying an additional 1,739 shares in the last quarter. Kowal Investment Group LLC grew its stake in shares of Public Service Enterprise Group by 35.8% in the 1st quarter. Kowal Investment Group LLC now owns 5,821 shares of the utilities provider’s stock valued at $389,000 after buying an additional 1,536 shares in the last quarter. Finally, Norden Group LLC bought a new stake in Public Service Enterprise Group during the first quarter worth approximately $510,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $89.63 on Friday. The business has a fifty day simple moving average of $85.69 and a 200 day simple moving average of $77.84. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $44.65 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 2.71 and a beta of 0.61. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PEG. Morgan Stanley upped their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. UBS Group upped their target price on Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Wells Fargo & Company upped 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. Evercore ISI upped their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Barclays upped their price target on Public Service Enterprise Group from $80.00 to $98.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.15.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the sale, the executive vice president now owns 57,961 shares in the company, valued at $4,610,217.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,010 shares of company stock worth $3,397,855 over the last three months. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Company Profile

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.