Great Lakes Retirement Inc. Increases Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Great Lakes Retirement Inc. increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.4% during the third quarter, Holdings Channel.com reports. The firm owned 29,357 shares of the utilities provider’s stock after acquiring an additional 127 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Public Service Enterprise Group were worth $2,619,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Gateway Investment Advisers LLC lifted its stake in shares of Public Service Enterprise Group by 13.1% in the 1st quarter. Gateway Investment Advisers LLC now owns 9,406 shares of the utilities provider’s stock valued at $628,000 after acquiring an additional 1,092 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Public Service Enterprise Group by 2.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 73,833 shares of the utilities provider’s stock worth $4,931,000 after buying an additional 1,555 shares during the period. Edge Wealth Management LLC increased its stake in shares of Public Service Enterprise Group by 0.9% in the first quarter. Edge Wealth Management LLC now owns 120,426 shares of the utilities provider’s stock worth $8,042,000 after buying an additional 1,068 shares during the period. Norwood Financial Corp raised its holdings in Public Service Enterprise Group by 58.3% during the 1st quarter. Norwood Financial Corp now owns 1,263 shares of the utilities provider’s stock valued at $84,000 after buying an additional 465 shares during the last quarter. Finally, Fox Hill Wealth Management grew its holdings in Public Service Enterprise Group by 4.0% in the 1st quarter. Fox Hill Wealth Management now owns 18,297 shares of the utilities provider’s stock worth $1,222,000 after acquiring an additional 702 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the sale, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at $4,610,217.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,010 shares of company stock valued at $3,397,855. 0.57% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PEG. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Wells Fargo & Company increased their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Barclays lifted their price objective on Public Service Enterprise Group from $80.00 to $98.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Evercore ISI upped their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.15.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $90.73 on Thursday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The stock has a market cap of $45.19 billion, a P/E ratio of 25.13, a P/E/G ratio of 2.71 and a beta of 0.61. The business’s 50 day moving average price is $85.31 and its 200-day moving average price is $77.52. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm posted $0.70 earnings per share. The company’s revenue was up .1% compared to the same quarter last year. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group 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.