HighTower Advisors LLC Acquires 6,083 Shares of Public Service Enterprise Group Incorporated $PEG

HighTower Advisors LLC grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 191,964 shares of the utilities provider’s stock after acquiring an additional 6,083 shares during the period. HighTower Advisors LLC’s holdings in Public Service Enterprise Group were worth $16,022,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JARISLOWSKY FRASER Ltd increased its position in shares of Public Service Enterprise Group by 107.1% during the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 1,025,305 shares of the utilities provider’s stock valued at $85,572,000 after purchasing an additional 530,248 shares during the last quarter. Railway Pension Investments Ltd increased its holdings in Public Service Enterprise Group by 97.5% during the third quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock valued at $158,390,000 after buying an additional 937,100 shares during the last quarter. Assetmark Inc. raised its position in Public Service Enterprise Group by 4.6% in the third quarter. Assetmark Inc. now owns 893,950 shares of the utilities provider’s stock worth $74,609,000 after acquiring an additional 38,949 shares during the period. Rakuten Investment Management Inc. bought a new position in Public Service Enterprise Group in the third quarter worth approximately $1,852,000. Finally, New York State Common Retirement Fund boosted its stake in shares of Public Service Enterprise Group by 13.0% during the 3rd quarter. New York State Common Retirement Fund now owns 314,668 shares of the utilities provider’s stock worth $26,262,000 after acquiring an additional 36,100 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 0.2%

NYSE PEG opened at $85.52 on Friday. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $91.25. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. The stock has a market cap of $42.69 billion, a PE ratio of 20.56, a P/E/G ratio of 2.77 and a beta of 0.59. The stock’s 50 day moving average is $80.91 and its 200 day moving average is $81.94.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Monday, December 29th. Argus raised Public Service Enterprise Group to a “strong-buy” rating in a research note on Wednesday, January 14th. BMO Capital Markets cut their price objective on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research note on Tuesday, November 4th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price for the company in a report on Wednesday, January 7th. Finally, UBS Group lowered their price target on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.96.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.