Elevated Capital Advisors LLC Lowers Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Elevated Capital Advisors LLC lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,670 shares of the utilities provider’s stock after selling 275 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of PEG. Segment Wealth Management LLC bought a new stake in Public Service Enterprise Group in the 3rd quarter worth about $241,000. Symphony Financial Ltd. Co. increased its holdings in Public Service Enterprise Group by 17.4% in the 3rd quarter. Symphony Financial Ltd. Co. now owns 15,426 shares of the utilities provider’s stock worth $1,396,000 after buying an additional 2,284 shares in the last quarter. Leo Wealth LLC increased its holdings in Public Service Enterprise Group by 4.9% in the 3rd quarter. Leo Wealth LLC now owns 18,635 shares of the utilities provider’s stock worth $1,662,000 after buying an additional 871 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in Public Service Enterprise Group by 7.4% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 29,000 shares of the utilities provider’s stock worth $2,587,000 after buying an additional 2,000 shares in the last quarter. Finally, Eastern Bank bought a new stake in Public Service Enterprise Group in the 3rd quarter worth about $426,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Evercore ISI boosted their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Bank of America boosted their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Scotiabank boosted their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Barclays boosted their price target on Public Service Enterprise Group from $80.00 to $98.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.15.

Public Service Enterprise Group Stock Down 0.1 %

NYSE PEG opened at $89.65 on Wednesday. The stock’s 50 day moving average is $85.11 and its 200 day moving average is $77.43. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $92.20. The stock has a market cap of $44.66 billion, a PE ratio of 27.20, a P/E/G ratio of 2.71 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the firm posted $0.70 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Insider Transactions 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 stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the sale, the executive vice president now directly owns 57,961 shares in the company, valued at $4,610,217.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,010 shares of company stock valued at $3,397,855 in the last ninety days. Corporate insiders own 0.57% of the company’s stock.

About Public Service Enterprise Group

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.