Janney Montgomery Scott LLC Cuts Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Janney Montgomery Scott LLC trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 60,078 shares of the utilities provider’s stock after selling 703 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Public Service Enterprise Group were worth $5,360,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

PEG has been the topic of several recent research reports. UBS Group raised their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Barclays lowered their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company lifted their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI raised their price target on shares of 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. Four investment analysts have rated the stock with 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 an average price target of $86.69.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the sale, the chief executive officer now 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 Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the sale, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock in a transaction that occurred 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 transaction, the executive vice president now owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. The trade was 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 valued at $3,397,855 over the last quarter. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Up 1.9 %

PEG opened at $85.82 on Friday. The business has a fifty day simple moving average of $86.80 and a 200-day simple moving average of $79.19. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $92.20. The company has a quick ratio of 0.46, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a market cap of $42.76 billion, a P/E ratio of 21.09, a P/E/G ratio of 3.06 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 EPS. On average, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.66 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.