IFM Investors Pty Ltd Has $16.98 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

IFM Investors Pty Ltd grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 190,362 shares of the utilities provider’s stock after purchasing an additional 11,536 shares during the quarter. IFM Investors Pty Ltd’s holdings in Public Service Enterprise Group were worth $16,982,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Gateway Investment Advisers LLC lifted its position in Public Service Enterprise Group by 13.1% during the first quarter. Gateway Investment Advisers LLC now owns 9,406 shares of the utilities provider’s stock worth $628,000 after purchasing an additional 1,092 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Public Service Enterprise Group by 2.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 73,833 shares of the utilities provider’s stock valued at $4,931,000 after purchasing an additional 1,555 shares in the last quarter. Edge Wealth Management LLC grew its position in shares of Public Service Enterprise Group by 0.9% during the 1st 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 grew its holdings in Public Service Enterprise Group by 58.3% in the first quarter. Norwood Financial Corp now owns 1,263 shares of the utilities provider’s stock worth $84,000 after purchasing an additional 465 shares during the period. Finally, Fox Hill Wealth Management increased its stake in Public Service Enterprise Group by 4.0% in the first quarter. Fox Hill Wealth Management now owns 18,297 shares of the utilities provider’s stock valued at $1,222,000 after purchasing an additional 702 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Evercore ISI boosted their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Scotiabank lifted their price target on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Bank of America upped their price objective 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. BMO Capital Markets boosted their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday. Finally, UBS Group increased their price target on Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $87.15.

Insider Activity

In other news, EVP Tamara Louise Linde sold 9,564 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the sale, the executive vice president now owns 48,397 shares of the company’s stock, valued at $4,385,252.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the transaction, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at $4,385,252.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the sale, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at approximately $13,305,762.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,010 shares of company stock worth $3,397,855. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Down 0.3 %

NYSE:PEG traded down $0.25 during trading hours on Thursday, reaching $90.48. The company’s stock had a trading volume of 500,152 shares, compared to its average volume of 2,786,896. The firm has a 50-day simple moving average of $85.31 and a 200-day simple moving average of $77.52. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $92.20. The firm has a market capitalization of $45.07 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 2.71 and a beta of 0.61.

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

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.