November 10, 2019 at 8:16 pm

Towerpoint Wealth LLC Makes New $204,000 Investment in Public Service Enterprise Group Inc. (NYSE:PEG)

by

Towerpoint Wealth LLC bought a new position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,282 shares of the utilities provider’s stock, valued at approximately $204,000.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Berman Capital Advisors LLC increased its position in shares of Public Service Enterprise Group by 79.0% in the second quarter. Berman Capital Advisors LLC now owns 460 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 203 shares in the last quarter. Stonebridge Capital Advisors LLC acquired a new position in Public Service Enterprise Group during the 2nd quarter worth $29,000. Capital Investment Advisory Services LLC grew its holdings in Public Service Enterprise Group by 123.0% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 475 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 262 shares in the last quarter. Executive Wealth Management LLC grew its holdings in Public Service Enterprise Group by 137.4% during the 2nd quarter. Executive Wealth Management LLC now owns 781 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 452 shares in the last quarter. Finally, Bridger Capital Management LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter worth $50,000. Institutional investors own 69.28% of the company’s stock.

In other Public Service Enterprise Group news, CFO Daniel J. Cregg sold 625 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $61.90, for a total transaction of $38,687.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Ralph A. Larossa sold 1,650 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $60.82, for a total transaction of $100,353.00. The disclosure for this sale can be found here. Insiders have sold a total of 9,201 shares of company stock worth $561,770 over the last 90 days. 0.51% of the stock is owned by insiders.

A number of research firms have recently issued reports on PEG. ValuEngine downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada raised their price target on shares of Public Service Enterprise Group from $60.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 3rd. Citigroup downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a research report on Monday, July 29th. Bank of America downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a research report on Friday, July 19th. Finally, Mizuho raised their price target on shares of Public Service Enterprise Group from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $63.16.

NYSE:PEG traded up $0.16 during mid-day trading on Friday, hitting $61.43. The stock had a trading volume of 1,284,671 shares, compared to its average volume of 2,475,536. The stock has a market capitalization of $31.31 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 5.16 and a beta of 0.28. The company has a 50 day simple moving average of $62.17 and a 200-day simple moving average of $60.20. Public Service Enterprise Group Inc. has a 52 week low of $49.22 and a 52 week high of $63.88. The company has a current ratio of 0.75, a quick ratio of 0.52 and a debt-to-equity ratio of 0.99.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.03. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.55 billion. Public Service Enterprise Group had a net margin of 14.45% and a return on equity of 11.01%. During the same period last year, the firm posted $0.95 EPS. As a group, equities research analysts anticipate that Public Service Enterprise Group Inc. will post 3.25 earnings per share for the current year.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

Featured Article: How do candlesticks reflect price movement?

Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Inc. (NYSE:PEG).

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

Leave a Comment

Your email address will not be published. Required fields are marked *