Public Service Enterprise Group Incorporated (NYSE:PEG) Holdings Boosted by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 72.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 832,016 shares of the utilities provider’s stock after buying an additional 349,139 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Public Service Enterprise Group were worth $74,224,000 at the end of the most recent quarter.

Several other institutional investors and 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 during the 2nd quarter valued at $33,000. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $48,000. Country Trust Bank purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at $52,000. Finally, Friedenthal Financial purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at $52,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEG has been the topic of several research analyst reports. Royal Bank of Canada boosted 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 report on Monday, July 15th. Barclays lowered their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Scotiabank upped their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Evercore ISI upped their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.69.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s 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 owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s 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 owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, 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. Over the last 90 days, insiders sold 41,010 shares of company stock valued at $3,397,855. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock traded up $1.59 on Friday, reaching $85.82. 2,639,223 shares of the stock were exchanged, compared to its average volume of 2,790,766. The stock has a market cap of $42.76 billion, a PE ratio of 21.09, a PEG ratio of 3.06 and a beta of 0.61. The company has a current ratio of 0.68, a quick ratio of 0.46 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $92.20. The firm has a fifty day moving average price of $86.80 and a two-hundred day moving average price of $79.28.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Company 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.