D.B. Root & Company LLC Cuts Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

D.B. Root & Company LLC lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,021 shares of the utilities provider’s stock after selling 302 shares during the period. D.B. Root & Company LLC’s holdings in Public Service Enterprise Group were worth $448,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James & Associates grew its position in Public Service Enterprise Group by 315.2% during the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock worth $162,590,000 after purchasing an additional 1,674,827 shares during the last quarter. Sound Shore Management Inc. CT purchased a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $71,298,000. Hsbc Holdings PLC grew its position in 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 purchasing an additional 732,443 shares during the last quarter. Reaves W H & Co. Inc. grew its position in Public Service Enterprise Group by 73.9% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock worth $104,978,000 after purchasing an additional 667,773 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in Public Service Enterprise Group by 381.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock worth $59,023,000 after purchasing an additional 634,587 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $83.81 on Thursday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. The company has a fifty day moving average of $86.62 and a two-hundred day moving average of $79.03. The stock has a market capitalization of $41.75 billion, a PE ratio of 20.59, a P/E/G ratio of 2.69 and a beta of 0.61. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.78%. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the prior year, the business posted $0.85 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Insider Transactions at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 9,564 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were 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 of the company’s stock, valued at $4,385,252.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the sale, the chief executive officer now owns 147,514 shares of the company’s stock, valued at approximately $13,305,762.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Tamara Louise Linde sold 9,564 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were 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 directly owns 48,397 shares of the company’s stock, valued at $4,385,252.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,010 shares of company stock valued at $3,397,855 over the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on PEG. Evercore ISI boosted their target price 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. Scotiabank upped their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. UBS Group boosted their target price 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. 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. Finally, LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Four research 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 company. According to 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 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.