Colonial River Investments LLC Takes $634,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Colonial River Investments LLC acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,111 shares of the utilities provider’s stock, valued at approximately $634,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Public Service Enterprise Group by 2.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 27,121 shares of the utilities provider’s stock worth $1,811,000 after acquiring an additional 653 shares during the last quarter. SG Americas Securities LLC lifted its holdings in 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 valued at $4,303,000 after purchasing an additional 38,188 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of Public Service Enterprise Group by 3.2% during the 1st quarter. Concurrent Investment Advisors LLC now owns 14,012 shares of the utilities provider’s stock worth $936,000 after purchasing an additional 439 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Public Service Enterprise Group by 35.7% during the first quarter. Sei Investments Co. now owns 243,152 shares of the utilities provider’s stock worth $16,237,000 after buying an additional 63,983 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its position in shares of Public Service Enterprise Group by 1.8% in the first quarter. Cornerstone Planning Group LLC now owns 11,383 shares of the utilities provider’s stock valued at $802,000 after buying an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $85.82 on Friday. 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 capitalization of $42.76 billion, a P/E ratio of 21.09, a PEG ratio of 3.06 and a beta of 0.61. The firm has a fifty day moving average of $86.80 and a 200-day 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.

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 the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the company posted $0.85 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. As a group, analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were 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 owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated 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 directly owns 148,892 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,010 shares of company stock worth $3,397,855. 0.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PEG. Barclays decreased their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Jefferies Financial Group assumed coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They issued a “hold” rating and a $85.00 price objective for the company. Royal Bank of Canada upped their target price 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. Scotiabank raised their price target 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, UBS Group upped their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.69.

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.