Grove Bank & Trust Sells 1,493 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Grove Bank & Trust decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 49.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,503 shares of the utilities provider’s stock after selling 1,493 shares during the period. Grove Bank & Trust’s holdings in Public Service Enterprise Group were worth $134,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Harrell Investment Partners LLC lifted its stake in Public Service Enterprise Group by 38.7% in the 3rd quarter. Harrell Investment Partners LLC now owns 29,319 shares of the utilities provider’s stock valued at $2,616,000 after acquiring an additional 8,182 shares in the last quarter. Douglas Lane & Associates LLC bought a new stake in Public Service Enterprise Group in the 3rd quarter valued at approximately $207,000. McGlone Suttner Wealth Management Inc. raised its stake in shares of Public Service Enterprise Group by 34.5% during the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 5,010 shares of the utilities provider’s stock worth $447,000 after purchasing an additional 1,285 shares in the last quarter. CHICAGO TRUST Co NA raised its stake in shares of Public Service Enterprise Group by 2.5% during the 3rd quarter. CHICAGO TRUST Co NA now owns 37,557 shares of the utilities provider’s stock worth $3,350,000 after purchasing an additional 929 shares in the last quarter. Finally, Retirement Planning Group LLC bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $333,000. Institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PEG shares. Bank of America upped 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. Scotiabank upped 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. 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. Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective on the stock in a research note on Monday, June 17th. Finally, Barclays upped their price objective on Public Service Enterprise Group from $80.00 to $98.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.62.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $89.16 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. The stock’s fifty day moving average price is $83.90 and its two-hundred day moving average price is $76.45. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $92.20. The firm has a market cap of $44.41 billion, a price-to-earnings ratio of 24.70, a P/E/G ratio of 2.72 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates 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 prior year, the company earned $0.70 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Insider Buying and Selling at Public Service Enterprise Group

In other 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 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 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 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 48,397 shares in the company, 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. Insiders have sold a total of 41,010 shares of company stock valued at $3,397,855 in the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

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.