Penserra Capital Management LLC Takes $1.82 Million Position in Public Service Enterprise Group Inc. (PEG)

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Penserra Capital Management LLC acquired a new position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 34,446 shares of the utilities provider’s stock, valued at approximately $1,818,000.

Several other hedge funds have also made changes to their positions in PEG. Robeco Institutional Asset Management B.V. lifted its position in shares of Public Service Enterprise Group by 100.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,468,152 shares of the utilities provider’s stock worth $185,421,000 after buying an additional 1,734,031 shares during the last quarter. Morgan Stanley lifted its position in shares of Public Service Enterprise Group by 71.1% during the 2nd quarter. Morgan Stanley now owns 2,008,074 shares of the utilities provider’s stock worth $108,717,000 after buying an additional 834,721 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Public Service Enterprise Group by 20.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,328,952 shares of the utilities provider’s stock worth $228,525,000 after buying an additional 729,547 shares during the last quarter. Unigestion Holding SA bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth $20,664,000. Finally, Jennison Associates LLC lifted its position in shares of Public Service Enterprise Group by 27.2% during the 2nd quarter. Jennison Associates LLC now owns 1,773,765 shares of the utilities provider’s stock worth $96,032,000 after buying an additional 379,262 shares during the last quarter. Institutional investors and hedge funds own 69.00% of the company’s stock.

Public Service Enterprise Group stock opened at $53.79 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.72 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $26.78 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 2.54 and a beta of 0.28. Public Service Enterprise Group Inc. has a 12 month low of $46.19 and a 12 month high of $56.68.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, October 30th. The utilities provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.91 by $0.04. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.62 billion. Public Service Enterprise Group had a return on equity of 11.24% and a net margin of 23.54%. During the same period last year, the company earned $0.82 earnings per share. On average, research analysts anticipate that Public Service Enterprise Group Inc. will post 3.1 EPS for the current year.

Several analysts recently weighed in on PEG shares. Argus upped their price objective on Public Service Enterprise Group from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 17th. ValuEngine upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Morgan Stanley set a $59.00 price objective on Public Service Enterprise Group and gave the stock a “buy” rating in a research report on Thursday, October 11th. Deutsche Bank dropped their price objective on Public Service Enterprise Group from $58.00 to $57.00 and set a “hold” rating for the company in a research report on Wednesday, October 31st. Finally, Citigroup upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Tuesday, October 9th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $56.46.

In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 2,300 shares of the stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $53.02, for a total value of $121,946.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Ralph Izzo sold 52,407 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $52.57, for a total value of $2,755,035.99. Following the completion of the transaction, the chairman now owns 558,073 shares of the company’s stock, valued at $29,337,897.61. The disclosure for this sale can be found here. Insiders sold 156,942 shares of company stock valued at $8,272,885 over the last quarter. Corporate insiders own 0.58% of the company’s stock.

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Public Service Enterprise Group Profile

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; and 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.

See Also: Float

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)

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