Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 29.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,096 shares of the utilities provider’s stock after buying an additional 2,991 shares during the period. Blue Trust Inc.’s holdings in Public Service Enterprise Group were worth $1,168,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Heritage Wealth Management Inc. bought a new position in Public Service Enterprise Group during the second quarter worth $422,000. QRG Capital Management Inc. grew its position in shares of Public Service Enterprise Group by 28.0% during the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock valued at $5,227,000 after buying an additional 15,505 shares during the last quarter. CWM LLC grew its position in shares of Public Service Enterprise Group by 72.3% during the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock valued at $1,532,000 after buying an additional 8,723 shares during the last quarter. Czech National Bank raised its stake in Public Service Enterprise Group by 8.3% during the second quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock worth $6,995,000 after acquiring an additional 7,235 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Public Service Enterprise Group by 145.5% in the first quarter. SG Americas Securities LLC now owns 64,437 shares of the utilities provider’s stock valued at $4,303,000 after acquiring an additional 38,188 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.1 %

PEG opened at $89.76 on Monday. The stock’s fifty day moving average is $84.72 and its 200-day moving average is $77.10. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $92.20. The company has a market capitalization of $44.71 billion, a PE ratio of 24.86, a P/E/G ratio of 2.69 and a beta of 0.61. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65.

Public Service Enterprise Group (NYSE:PEG) last issued 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). The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. Public Service Enterprise Group’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 earnings per share. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the sale, the executive vice president now owns 48,397 shares in the company, valued at approximately $4,385,252.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Tamara Louise Linde sold 9,564 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the sale, the executive vice president now owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,010 shares of company stock worth $3,397,855. 0.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PEG has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 price target on the stock. Royal Bank of Canada upped their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Wells Fargo & Company lifted their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI upped their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $86.92.

Public Service Enterprise Group 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.