Parallel Advisors LLC lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 20.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,932 shares of the utilities provider’s stock after selling 774 shares during the period. Parallel Advisors LLC’s holdings in Public Service Enterprise Group were worth $186,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Tcwp LLC purchased a new stake in Public Service Enterprise Group during the 1st quarter valued at $28,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth about $30,000. Total Clarity Wealth Management Inc. purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth about $34,000. Capital Analysts LLC purchased a new stake in shares of Public Service Enterprise Group in the 1st quarter worth about $35,000. Finally, WASHINGTON TRUST Co lifted its position in shares of Public Service Enterprise Group by 47.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 590 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 190 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.
Insider Transactions at Public Service Enterprise Group
In other news, COO Ralph A. Larossa sold 1,054 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $65.76, for a total value of $69,311.04. Following the completion of the sale, the chief operating officer now directly owns 61,259 shares in the company, valued at $4,028,391.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Ralph A. Larossa sold 1,054 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $65.76, for a total value of $69,311.04. Following the completion of the sale, the chief operating officer now directly owns 61,259 shares in the company, valued at $4,028,391.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ralph Izzo sold 9,883 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $65.58, for a total transaction of $648,127.14. Following the completion of the sale, the chief executive officer now owns 441,613 shares of the company’s stock, valued at $28,960,980.54. The disclosure for this sale can be found here. Insiders sold 12,391 shares of company stock worth $811,479 over the last three months. 0.55% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
PEG has been the subject of several research analyst reports. Morgan Stanley dropped their target price on shares of Public Service Enterprise Group from $81.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday. The Goldman Sachs Group increased their price target on shares of Public Service Enterprise Group from $75.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, October 4th. Mizuho decreased their price target on shares of Public Service Enterprise Group from $73.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, July 12th. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Wells Fargo & Company decreased their price target on shares of Public Service Enterprise Group from $81.00 to $69.00 and set an “overweight” rating for the company in a research note on Wednesday, October 19th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.89.
Public Service Enterprise Group Stock Up 0.9 %
NYSE:PEG opened at $54.27 on Monday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.68 and a current ratio of 0.78. Public Service Enterprise Group Incorporated has a fifty-two week low of $52.51 and a fifty-two week high of $75.61. The firm has a 50-day simple moving average of $62.51 and a two-hundred day simple moving average of $64.91.
Public Service Enterprise Group (NYSE:PEG – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The utilities provider reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $1.78 billion. Public Service Enterprise Group had a negative net margin of 10.59% and a positive return on equity of 13.25%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 earnings per share. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.48 EPS for the current fiscal year.
About Public Service Enterprise Group
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.
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