Braun Stacey Associates Inc. Decreases Holdings in Public Service Enterprise Group Incorporated (PEG)

Braun Stacey Associates Inc. lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 45.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,344 shares of the utilities provider’s stock after selling 25,110 shares during the quarter. Braun Stacey Associates Inc.’s holdings in Public Service Enterprise Group were worth $1,403,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. KBC Group NV raised its position in Public Service Enterprise Group by 1.2% during the 2nd quarter. KBC Group NV now owns 54,191 shares of the utilities provider’s stock worth $2,331,000 after buying an additional 617 shares during the last quarter. Advisory Services Network LLC raised its position in Public Service Enterprise Group by 11.7% during the 2nd quarter. Advisory Services Network LLC now owns 5,149 shares of the utilities provider’s stock worth $221,000 after buying an additional 541 shares during the last quarter. Rench Wealth Management Inc. raised its position in Public Service Enterprise Group by 1.1% during the 2nd quarter. Rench Wealth Management Inc. now owns 43,151 shares of the utilities provider’s stock worth $1,856,000 after buying an additional 470 shares during the last quarter. People s United Financial Inc. raised its position in Public Service Enterprise Group by 174.1% during the 2nd quarter. People s United Financial Inc. now owns 8,059 shares of the utilities provider’s stock worth $347,000 after buying an additional 5,119 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in Public Service Enterprise Group by 4.1% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 134,336 shares of the utilities provider’s stock worth $5,778,000 after buying an additional 5,263 shares during the last quarter. Institutional investors own 65.02% of the company’s stock.

A number of brokerages have recently issued reports on PEG. BidaskClub upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Morgan Stanley increased their price target on shares of Public Service Enterprise Group from $51.00 to $53.00 and gave the company an “equal weight” rating in a report on Friday, September 8th. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, August 1st. Mizuho raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $44.50 to $50.00 in a research note on Friday, August 11th. Finally, J P Morgan Chase & Co increased their price objective on shares of Public Service Enterprise Group from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Public Service Enterprise Group has an average rating of “Buy” and a consensus target price of $50.42.

In other news, insider Derek M. Dirisio sold 1,500 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $47.11, for a total transaction of $70,665.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Ralph Izzo sold 79,920 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $48.83, for a total transaction of $3,902,493.60. The disclosure for this sale can be found here. Insiders have sold 209,433 shares of company stock worth $10,247,152 in the last quarter. Insiders own 0.61% of the company’s stock.

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Public Service Enterprise Group Incorporated (PEG) traded up $0.11 during midday trading on Friday, reaching $50.38. 3,589,900 shares of the company traded hands, compared to its average volume of 3,019,880. Public Service Enterprise Group Incorporated has a 52-week low of $39.28 and a 52-week high of $50.56. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.80 and a quick ratio of 0.56. The stock has a market capitalization of $25,494.25, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 6.59 and a beta of 0.39.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.82 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the previous year, the business posted $0.88 EPS. The company’s quarterly revenue was down 7.6% on a year-over-year basis. sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 2.92 earnings per share for the current fiscal year.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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

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