Consolidated Planning Corp Takes $396,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Consolidated Planning Corp purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the third quarter, Holdings Channel reports. The firm purchased 4,444 shares of the utilities provider’s stock, valued at approximately $396,000.

A number of other institutional investors have also modified their holdings of PEG. Raymond James & Associates boosted its stake in Public Service Enterprise Group by 30.1% in the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock worth $255,954,000 after purchasing an additional 663,012 shares in the last quarter. Hamlin Capital Management LLC boosted its stake in Public Service Enterprise Group by 7.2% in the 3rd quarter. Hamlin Capital Management LLC now owns 2,427,336 shares of the utilities provider’s stock worth $216,543,000 after purchasing an additional 162,731 shares in the last quarter. Hsbc Holdings PLC boosted its stake 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 worth $178,763,000 after purchasing an additional 732,443 shares in the last quarter. abrdn plc boosted its stake in Public Service Enterprise Group by 10.2% in the 3rd quarter. abrdn plc now owns 1,792,186 shares of the utilities provider’s stock worth $159,074,000 after purchasing an additional 165,995 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Public Service Enterprise Group by 10.4% in 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 in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Performance

PEG opened at $85.82 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.46. The firm has a fifty day moving average price of $86.80 and a 200 day moving average price of $79.19. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $92.20. The stock has a market cap of $42.76 billion, a P/E ratio of 21.09, a P/E/G ratio of 3.06 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the business posted $0.85 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on PEG shares. 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. Evercore ISI lifted 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 note on Tuesday, October 8th. Barclays reduced their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday. Bank of America raised their price target 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. Finally, Scotiabank raised their price target on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $86.69.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group 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 transaction, the executive vice president now directly owns 48,397 shares in the company, valued at approximately $4,385,252.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Public Service Enterprise Group 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 transaction, the executive vice president now directly owns 48,397 shares in the company, valued at approximately $4,385,252.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the transaction, the chief executive officer now owns 147,514 shares of the company’s stock, valued at $13,305,762.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,010 shares of company stock worth $3,397,855 in the last three months. Company insiders own 0.57% of the company’s stock.

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.