Chartwell Investment Partners LLC Sells 19,767 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Chartwell Investment Partners LLC lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 37.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,975 shares of the utilities provider’s stock after selling 19,767 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Public Service Enterprise Group were worth $2,942,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PEG. Old Port Advisors lifted its holdings in shares of Public Service Enterprise Group by 0.5% during the 3rd quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock valued at $2,099,000 after purchasing an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC grew its position in shares of Public Service Enterprise Group by 1.3% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock valued at $827,000 after acquiring an additional 115 shares during the period. Cigna Investments Inc. New grew its position in shares of Public Service Enterprise Group by 2.5% during the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock valued at $451,000 after acquiring an additional 124 shares during the period. Great Lakes Retirement Inc. boosted its holdings in Public Service Enterprise Group by 0.4% in the 3rd quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock worth $2,619,000 after buying an additional 127 shares during the last quarter. Finally, Brighton Jones LLC boosted its holdings in Public Service Enterprise Group by 1.8% in the 2nd quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock worth $548,000 after buying an additional 131 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PEG. BMO Capital Markets boosted their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Wells Fargo & Company boosted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Scotiabank boosted their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Finally, Morgan Stanley lifted their price target on shares of 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. Four research 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.69.

Insider Activity

In related news, 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 transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the transaction, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $1,535,133.02. Following the completion of the sale, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,910 shares of company stock valued at $3,916,760. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Down 1.4 %

Shares of NYSE PEG opened at $86.73 on Wednesday. The firm has a market cap of $43.21 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 3.14 and a beta of 0.61. The company has a quick ratio of 0.46, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $92.20. The business’s 50 day moving average is $86.95 and its two-hundred day moving average is $79.51.

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