J.W. Cole Advisors Inc. Increases Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

J.W. Cole Advisors Inc. raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 18,355 shares of the utilities provider’s stock after buying an additional 522 shares during the period. J.W. Cole Advisors Inc.’s holdings in Public Service Enterprise Group were worth $1,637,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PEG. Hamlin Capital Management LLC grew its holdings in shares of Public Service Enterprise Group by 7.2% in the third quarter. Hamlin Capital Management LLC now owns 2,427,336 shares of the utilities provider’s stock valued at $216,543,000 after purchasing an additional 162,731 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Public Service Enterprise Group by 5.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 113,029 shares of the utilities provider’s stock valued at $9,964,000 after purchasing an additional 5,569 shares during the last quarter. Modera Wealth Management LLC grew its stake in shares of Public Service Enterprise Group by 45.1% in the 3rd quarter. Modera Wealth Management LLC now owns 12,113 shares of the utilities provider’s stock valued at $1,081,000 after buying an additional 3,765 shares during the period. GHP Investment Advisors Inc. increased its holdings in shares of Public Service Enterprise Group by 30.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 1,107 shares of the utilities provider’s stock worth $99,000 after buying an additional 257 shares during the last quarter. Finally, First Bank & Trust purchased a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at approximately $235,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value 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. 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 is available at this hyperlink. In other news, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the sale, the executive vice president now owns 48,397 shares in the company, valued at approximately $4,385,252.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 directly owns 147,514 shares of the company’s stock, valued at approximately $13,305,762.80. 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 41,010 shares of company stock valued at $3,397,855 in the last ninety days. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

PEG has been the subject of several analyst reports. Morgan Stanley increased their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Bank of America raised their price objective on 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. UBS Group upped their target price on shares of 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. Royal Bank of Canada lifted their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, Scotiabank boosted their price target on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.15.

Public Service Enterprise Group Stock Up 0.9 %

Public Service Enterprise Group stock opened at $90.42 on Tuesday. The stock’s fifty day moving average is $85.88 and its two-hundred day moving average is $78.09. The stock has a market cap of $45.04 billion, a PE ratio of 27.40, a P/E/G ratio of 2.73 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $92.20. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company earned $0.70 earnings per share. On average, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal 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.