Massachusetts Financial Services Co. MA Boosts Stake in Public Service Enterprise Group Inc. (NYSE:PEG)

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Massachusetts Financial Services Co. MA lifted its holdings in Public Service Enterprise Group Inc. (NYSE:PEG) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,058,183 shares of the utilities provider’s stock after buying an additional 67,093 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.00% of Public Service Enterprise Group worth $314,012,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Public Service Enterprise Group by 2.8% in the second quarter. Vanguard Group Inc. now owns 41,902,158 shares of the utilities provider’s stock worth $2,464,685,000 after buying an additional 1,129,724 shares in the last quarter. Northern Trust Corp raised its stake in Public Service Enterprise Group by 2.2% during the second quarter. Northern Trust Corp now owns 6,303,262 shares of the utilities provider’s stock worth $370,758,000 after purchasing an additional 136,854 shares during the period. Zimmer Partners LP raised its stake in Public Service Enterprise Group by 11.9% during the second quarter. Zimmer Partners LP now owns 4,525,827 shares of the utilities provider’s stock worth $266,209,000 after purchasing an additional 481,107 shares during the period. Pictet Asset Management Ltd. raised its stake in Public Service Enterprise Group by 14.8% during the second quarter. Pictet Asset Management Ltd. now owns 4,348,826 shares of the utilities provider’s stock worth $255,798,000 after purchasing an additional 562,238 shares during the period. Finally, California Public Employees Retirement System raised its stake in Public Service Enterprise Group by 11.0% during the third quarter. California Public Employees Retirement System now owns 4,216,542 shares of the utilities provider’s stock worth $261,763,000 after purchasing an additional 418,164 shares during the period. 69.26% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Public Service Enterprise Group stock traded up $0.38 on Wednesday, reaching $60.83. The company had a trading volume of 124,262 shares, compared to its average volume of 2,466,705. The firm’s 50 day moving average price is $62.13 and its two-hundred day moving average price is $60.24. The firm has a market cap of $31.07 billion, a PE ratio of 19.51, a PEG ratio of 5.12 and a beta of 0.28. 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 debt-to-equity ratio of 0.99, a quick ratio of 0.52 and a current ratio of 0.75.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. The business 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 in the previous year, the firm earned $0.95 EPS. As a group, sell-side analysts predict that Public Service Enterprise Group Inc. will post 3.25 EPS for the current year.

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

In other news, COO Ralph A. Larossa sold 1,650 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $60.82, for a total value of $100,353.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Derek M. Dirisio sold 2,176 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $60.08, for a total transaction of $130,734.08. The disclosure for this sale can be found here. Insiders sold a total of 9,201 shares of company stock worth $561,770 over the last three months. Insiders own 0.51% of the company’s stock.

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.

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

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