SeaCrest Wealth Management LLC Cuts Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

SeaCrest Wealth Management LLC trimmed its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,162 shares of the utilities provider’s stock after selling 185 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $639,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PEG. Heritage Wealth Management Inc. purchased a new position in Public Service Enterprise Group in the 2nd quarter valued at about $422,000. QRG Capital Management Inc. increased its position in shares of Public Service Enterprise Group by 28.0% during the second quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock worth $5,227,000 after purchasing an additional 15,505 shares in the last quarter. CWM LLC raised its stake in Public Service Enterprise Group by 72.3% in the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock valued at $1,532,000 after purchasing an additional 8,723 shares during the last quarter. Czech National Bank lifted its holdings in Public Service Enterprise Group by 8.3% in the 2nd quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock valued at $6,995,000 after purchasing an additional 7,235 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Public Service Enterprise Group by 145.5% during the 1st quarter. SG Americas Securities LLC now owns 64,437 shares of the utilities provider’s stock worth $4,303,000 after purchasing an additional 38,188 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PEG. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Scotiabank raised their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Evercore ISI upped their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Jefferies Financial Group assumed coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 price objective on the stock. Finally, Wells Fargo & Company upped their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $86.92.

Insider Buying and Selling at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the transaction, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at approximately $13,305,762.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,010 shares of company stock valued at $3,397,855 over the last quarter. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $89.70 on Friday. The stock has a market cap of $44.68 billion, a PE ratio of 24.85, a P/E/G ratio of 2.72 and a beta of 0.61. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $92.20. The stock has a fifty day simple moving average of $84.52 and a 200-day simple moving average of $76.79. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share 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 company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. Public Service Enterprise Group’s revenue was up .1% on a year-over-year basis. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

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.