2,668 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Acquired by Ballentine Partners LLC

Ballentine Partners LLC purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,668 shares of the utilities provider’s stock, valued at approximately $238,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Family Firm Inc. purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $33,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $35,000. Salomon & Ludwin LLC lifted its holdings in shares of Public Service Enterprise Group by 1,866.7% in the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after buying an additional 560 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at approximately $48,000. Finally, Country Trust Bank acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $52,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG opened at $88.16 on Wednesday. The company has a fifty day moving average price of $86.04 and a two-hundred day moving average price of $78.25. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $92.20. The firm has a market capitalization of $43.92 billion, a PE ratio of 26.72, a P/E/G ratio of 2.73 and a beta of 0.61.

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 for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $0.70 earnings per share. As a group, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on PEG shares. BMO Capital Markets raised their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 price objective for the company. Evercore ISI lifted their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Wells Fargo & Company lifted their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, UBS Group boosted their price target on Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.15.

Insider Activity at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,010 shares of company stock valued at $3,397,855. 0.18% of the stock is owned by corporate insiders.

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.