Public Service Enterprise Group Incorporated (NYSE:PEG) Holdings Decreased by Archer Investment Corp

Archer Investment Corp reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 61.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,870 shares of the utilities provider’s stock after selling 2,945 shares during the period. Archer Investment Corp’s holdings in Public Service Enterprise Group were worth $167,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Public Service Enterprise Group by 8.8% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 125,387 shares of the utilities provider’s stock worth $8,373,000 after acquiring an additional 10,118 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in shares of Public Service Enterprise Group by 11.9% in the first quarter. Kingsview Wealth Management LLC now owns 5,814 shares of the utilities provider’s stock valued at $388,000 after purchasing an additional 619 shares during the period. Blair William & Co. IL raised its holdings in shares of Public Service Enterprise Group by 5.8% during the first quarter. Blair William & Co. IL now owns 13,458 shares of the utilities provider’s stock valued at $899,000 after buying an additional 735 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Public Service Enterprise Group by 34.4% during the first quarter. Intech Investment Management LLC now owns 17,053 shares of the utilities provider’s stock worth $1,139,000 after buying an additional 4,362 shares during the period. Finally, Cornerstone Advisors LLC bought a new position in Public Service Enterprise Group in the 1st quarter worth approximately $601,000. 73.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barclays cut their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. UBS Group lifted their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Morgan Stanley increased their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Evercore ISI boosted their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, BMO Capital Markets increased their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

Insider Transactions at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 9,563 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the transaction, the executive vice president now owns 57,961 shares in the company, valued at approximately $4,610,217.94. This trade represents a 14.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the sale, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,783 shares of company stock valued at $2,381,626 in the last three months. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Up 2.3 %

NYSE:PEG opened at $88.99 on Friday. The stock’s 50-day moving average is $87.50 and its two-hundred day moving average is $79.89. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The stock has a market cap of $44.34 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 3.20 and a beta of 0.61. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 earnings per share. As a group, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.