Public Service Enterprise Group Incorporated (NYSE:PEG) Holdings Trimmed by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,828 shares of the utilities provider’s stock after selling 1,141 shares during the period. Valley Wealth Managers Inc.’s holdings in Public Service Enterprise Group were worth $4,802,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Heritage Wealth Management Inc. purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at $422,000. QRG Capital Management Inc. lifted its position in shares of Public Service Enterprise Group by 28.0% during 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 period. CWM LLC raised its stake in shares of 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 grew its holdings in 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 worth $6,995,000 after acquiring an additional 7,235 shares during the last quarter. Finally, Diversified Trust Co acquired a new position in shares of Public Service Enterprise Group during the second quarter valued at $585,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG stock traded up $0.49 during mid-day trading on Friday, reaching $87.49. 237,884 shares of the company traded hands, compared to its average volume of 2,769,279. The company has a fifty day moving average price of $87.32 and a 200-day moving average price of $79.74. The company has a market capitalization of $43.59 billion, a P/E ratio of 21.55, a P/E/G ratio of 3.20 and a beta of 0.61. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. 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 posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping 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 business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the business earned $0.85 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. As a group, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction 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 transaction, 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 0.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the senior vice president now owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,783 shares of company stock valued at $2,381,626 over the last three months. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. UBS Group raised their price objective on shares of 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 shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, Evercore ISI upped their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Four 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. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average price target of $86.69.

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.