Great Lakes Retirement Inc. Grows Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Great Lakes Retirement Inc. grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,357 shares of the utilities provider’s stock after acquiring an additional 127 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Public Service Enterprise Group were worth $2,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Raymond James & Associates boosted its holdings in Public Service Enterprise Group by 30.1% during the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock worth $255,954,000 after purchasing an additional 663,012 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Public Service Enterprise Group by 43.2% during the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after buying an additional 732,443 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Public Service Enterprise Group by 10.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,734,257 shares of the utilities provider’s stock worth $127,809,000 after buying an additional 163,333 shares during the last quarter. Reaves W H & Co. Inc. grew its holdings in shares of Public Service Enterprise Group by 73.9% in the first quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock valued at $104,978,000 after acquiring an additional 667,773 shares in the last quarter. Finally, Energy Income Partners LLC increased its position in shares of Public Service Enterprise Group by 14.2% during the first quarter. Energy Income Partners LLC now owns 1,557,690 shares of the utilities provider’s stock valued at $104,023,000 after acquiring an additional 193,736 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PEG shares. Royal Bank of Canada upped their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Wells Fargo & Company raised their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Scotiabank increased their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Bank of America upped their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $87.15.

Public Service Enterprise Group Trading Up 1.1 %

Shares of Public Service Enterprise Group stock opened at $90.73 on Thursday. The company’s 50-day moving average price is $85.31 and its 200-day moving average price is $77.52. 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 Incorporated has a 12-month low of $56.85 and a 12-month high of $92.20. The company has a market cap of $45.19 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 2.71 and a beta of 0.61.

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

Insider Buying and Selling

In other news, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction dated 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at $12,014,095.48. This 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 through the SEC website. Also, EVP Tamara Louise Linde sold 9,564 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the sale, the executive vice president now owns 48,397 shares in the company, valued at $4,385,252.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,010 shares of company stock worth $3,397,855 over the last ninety days. 0.57% of the stock is owned by corporate insiders.

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.