Reaves W H & Co. Inc. Purchases Shares of 481,425 Public Service Enterprise Group Incorporated (PEG)

Reaves W H & Co. Inc. purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 481,425 shares of the utilities provider’s stock, valued at approximately $22,266,000. Reaves W H & Co. Inc. owned approximately 0.10% of Public Service Enterprise Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PEG. Hudock Capital Group LLC grew its stake in shares of Public Service Enterprise Group by 38.8% in the second quarter. Hudock Capital Group LLC now owns 2,629 shares of the utilities provider’s stock valued at $113,000 after acquiring an additional 735 shares in the last quarter. Vantage Investment Advisors LLC grew its stake in Public Service Enterprise Group by 35.3% during the second quarter. Vantage Investment Advisors LLC now owns 2,685 shares of the utilities provider’s stock worth $115,000 after buying an additional 700 shares in the last quarter. Parallel Advisors LLC grew its stake in Public Service Enterprise Group by 6.0% during the second quarter. Parallel Advisors LLC now owns 2,772 shares of the utilities provider’s stock worth $125,000 after buying an additional 157 shares in the last quarter. IHT Wealth Management LLC grew its stake in Public Service Enterprise Group by 45.9% during the second quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock worth $131,000 after buying an additional 202 shares in the last quarter. Finally, Gradient Investments LLC grew its stake in Public Service Enterprise Group by 331.2% during the second quarter. Gradient Investments LLC now owns 3,234 shares of the utilities provider’s stock worth $139,000 after buying an additional 2,484 shares in the last quarter. Institutional investors and hedge funds own 65.03% of the company’s stock.

A number of equities research analysts have recently weighed in on PEG shares. Zacks Investment Research downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Wells Fargo & Company upgraded shares of Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 1st. Argus raised their price target on shares of Public Service Enterprise Group from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Bank of America Corporation started coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $49.00 price target on the stock. Finally, J P Morgan Chase & Co raised their price target 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. The stock presently has an average rating of “Buy” and an average price target of $50.42.

Public Service Enterprise Group Incorporated (NYSE PEG) traded up $0.07 during midday trading on Friday, reaching $51.38. 2,959,200 shares of the company traded hands, compared to its average volume of 2,753,248. Public Service Enterprise Group Incorporated has a twelve month low of $40.11 and a twelve month high of $52.12. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 0.86. The firm has a market cap of $26,030.00, a P/E ratio of 17.69, a P/E/G ratio of 6.41 and a beta of 0.39.

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

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In related news, insider Derek M. Dirisio sold 1,500 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total value of $70,665.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Ralph A. Larossa sold 33,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $50.12, for a total value of $1,653,960.00. Following the completion of the sale, the chief operating officer now owns 81,241 shares in the company, valued at $4,071,798.92. The disclosure for this sale can be found here. Insiders have sold a total of 242,433 shares of company stock worth $11,901,112 over the last ninety days. Insiders own 0.61% of the company’s stock.

Public Service Enterprise Group Profile

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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