Hennion & Walsh Asset Management Inc. Reduces Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Hennion & Walsh Asset Management Inc. lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,516 shares of the utilities provider’s stock after selling 507 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $3,793,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PEG. Raymond James & Associates lifted its position in shares of Public Service Enterprise Group by 30.1% in the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock valued at $255,954,000 after acquiring an additional 663,012 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Public Service Enterprise Group by 43.2% in the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after purchasing an additional 732,443 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Public Service Enterprise Group by 10.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,734,257 shares of the utilities provider’s stock worth $127,809,000 after purchasing an additional 163,333 shares during the last quarter. Reaves W H & Co. Inc. grew its holdings in shares of Public Service Enterprise Group by 73.9% during the first quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock worth $104,978,000 after buying an additional 667,773 shares in the last quarter. Finally, Energy Income Partners LLC raised its position in shares of Public Service Enterprise Group by 14.2% in the first quarter. Energy Income Partners LLC now owns 1,557,690 shares of the utilities provider’s stock valued at $104,023,000 after buying an additional 193,736 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. 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, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. This trade 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. 0.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. UBS Group lifted their price objective on Public Service Enterprise Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Barclays raised their price target 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. Royal Bank of Canada upped their price objective on shares of 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. Finally, Bank of America raised their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.15.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $90.49 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The company has a market cap of $45.08 billion, a PE ratio of 27.42, a P/E/G ratio of 2.71 and a beta of 0.61. The company’s fifty day simple moving average is $85.31 and its 200-day simple moving average is $77.52. 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 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). The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 EPS. As a group, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

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.