Raleigh Capital Management Inc. Sells 348 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Raleigh Capital Management Inc. trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 4,876 shares of the utilities provider’s stock after selling 348 shares during the period. Raleigh Capital Management Inc.’s holdings in Public Service Enterprise Group were worth $435,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Whittier Trust Co. lifted its stake in shares of Public Service Enterprise Group by 9.3% in the 3rd quarter. Whittier Trust Co. now owns 4,705 shares of the utilities provider’s stock valued at $420,000 after purchasing an additional 402 shares during the period. Stewardship Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at $258,000. Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at $48,000. Little House Capital LLC lifted its stake in shares of Public Service Enterprise Group by 1.2% in the 3rd quarter. Little House Capital LLC now owns 11,063 shares of the utilities provider’s stock valued at $987,000 after purchasing an additional 134 shares during the period. Finally, Berry Wealth Group LP lifted its stake in shares of Public Service Enterprise Group by 34.2% in the 3rd quarter. Berry Wealth Group LP now owns 19,582 shares of the utilities provider’s stock valued at $1,747,000 after purchasing an additional 4,990 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $89.77 on Wednesday. The business’s 50 day moving average price is $85.11 and its two-hundred day moving average price is $77.43. The company has a market cap of $44.72 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 2.71 and a beta of 0.61. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the company posted $0.70 EPS. Public Service Enterprise Group’s revenue for the quarter was up .1% compared to the same quarter last year. On average, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Insider Activity

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

Analyst Upgrades and Downgrades

Several analysts recently commented on PEG shares. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday. Bank of America raised their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Jefferies Financial Group started coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 price objective on the stock. Scotiabank raised their price objective on 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. Finally, Morgan Stanley increased their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. One 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.15.

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.