Public Service Enterprise Group Incorporated $PEG Stock: Eurizon Capital SGR S.p.A. Boosts Holdings

Eurizon Capital SGR S.p.A. lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 18.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 692,222 shares of the utilities provider’s stock after purchasing an additional 109,467 shares during the quarter. Eurizon Capital SGR S.p.A. owned 0.14% of Public Service Enterprise Group worth $46,626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PEG. REAP Financial Group LLC boosted its position in Public Service Enterprise Group by 11.3% in the third quarter. REAP Financial Group LLC now owns 1,515 shares of the utilities provider’s stock valued at $102,000 after buying an additional 154 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its stake in shares of Public Service Enterprise Group by 3.7% during the third quarter. Ashton Thomas Private Wealth LLC now owns 5,075 shares of the utilities provider’s stock worth $342,000 after buying an additional 181 shares during the last quarter. Miller Howard Investments Inc. NY grew its stake in shares of Public Service Enterprise Group by 0.6% during the third quarter. Miller Howard Investments Inc. NY now owns 30,687 shares of the utilities provider’s stock worth $2,066,000 after buying an additional 185 shares during the last quarter. Green Ridge Wealth Planning LLC grew its stake in shares of Public Service Enterprise Group by 7.1% during the second quarter. Green Ridge Wealth Planning LLC now owns 2,986 shares of the utilities provider’s stock worth $242,000 after buying an additional 198 shares during the last quarter. Finally, Syon Capital LLC increased its holdings in shares of Public Service Enterprise Group by 2.0% during the second quarter. Syon Capital LLC now owns 10,214 shares of the utilities provider’s stock worth $829,000 after buying an additional 199 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of research reports. Scotiabank dropped their price target on Public Service Enterprise Group from $92.00 to $77.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 30th. Wall Street Zen downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday, November 7th. Royal Bank Of Canada reduced their price objective on Public Service Enterprise Group from $81.00 to $76.00 in a research report on Monday, October 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Service Enterprise Group in a report on Tuesday, November 3rd. Finally, Citigroup lowered their target price on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Seven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $79.32.

Public Service Enterprise Group Stock Up 1.3%

NYSE:PEG opened at $75.80 on Friday. The firm’s 50 day simple moving average is $71.33 and its 200 day simple moving average is $77.78. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.01 and a quick ratio of 0.78. Public Service Enterprise Group Incorporated has a one year low of $66.15 and a one year high of $87.63. The company has a market cap of $37.79 billion, a PE ratio of 17.48, a P/E/G ratio of 2.57 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 2nd. The utilities provider reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.04). The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.19 billion. Public Service Enterprise Group had a net margin of 14.31% and a return on equity of 12.40%. The company’s revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.13 earnings per share. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph LaRossa sold 2,083 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $73.60, for a total value of $153,308.80. Following the completion of the sale, the chief executive officer directly owned 276,487 shares in the company, valued at $20,349,443.20. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group (PSEG) is an energy company headquartered in New Jersey. Its principal subsidiary, Public Service Electric and Gas Company (PSE&G), provides regulated electric and natural gas service to residential, commercial and industrial customers across much of the state. PSE&G operates electric and gas transmission and distribution systems and offers energy-efficiency programs. Through its generation business, PSEG also operates nuclear power plants in New Jersey, producing electricity for the regional power market.