Penserra Capital Management LLC acquired a new position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 34,446 shares of the utilities provider’s stock, valued at approximately $1,818,000.
Several other institutional investors also recently made changes to their positions in PEG. Robeco Institutional Asset Management B.V. raised its stake in shares of Public Service Enterprise Group by 100.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,468,152 shares of the utilities provider’s stock worth $185,421,000 after purchasing an additional 1,734,031 shares in the last quarter. Morgan Stanley raised its stake in Public Service Enterprise Group by 71.1% in the 2nd quarter. Morgan Stanley now owns 2,008,074 shares of the utilities provider’s stock valued at $108,717,000 after acquiring an additional 834,721 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Public Service Enterprise Group by 20.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,328,952 shares of the utilities provider’s stock valued at $228,525,000 after acquiring an additional 729,547 shares during the period. Unigestion Holding SA bought a new stake in Public Service Enterprise Group in the 2nd quarter valued at $20,664,000. Finally, Jennison Associates LLC raised its stake in Public Service Enterprise Group by 27.2% in the 2nd quarter. Jennison Associates LLC now owns 1,773,765 shares of the utilities provider’s stock valued at $96,032,000 after acquiring an additional 379,262 shares during the period. Institutional investors own 69.00% of the company’s stock.
PEG opened at $53.79 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.51 and a debt-to-equity ratio of 0.90. Public Service Enterprise Group Inc. has a 1-year low of $46.19 and a 1-year high of $56.68. The firm has a market capitalization of $26.78 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 2.54 and a beta of 0.28.
Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. Public Service Enterprise Group had a return on equity of 11.24% and a net margin of 23.54%. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the firm posted $0.82 EPS. As a group, equities analysts expect that Public Service Enterprise Group Inc. will post 3.1 earnings per share for the current year.
In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 2,300 shares of the company’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $53.02, for a total value of $121,946.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Ralph Izzo sold 52,407 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $52.57, for a total value of $2,755,035.99. Following the completion of the transaction, the chairman now directly owns 558,073 shares in the company, valued at $29,337,897.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,942 shares of company stock worth $8,272,885. Insiders own 0.58% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Mizuho restated a “hold” rating and issued a $50.00 price target on shares of Public Service Enterprise Group in a research note on Monday, August 6th. Citigroup upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Tuesday, October 9th. Argus increased their price target on Public Service Enterprise Group from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 17th. Morgan Stanley dropped their price target on Public Service Enterprise Group from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, September 21st. Finally, UBS Group upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $56.00 to $60.00 in a research note on Wednesday, October 10th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $56.46.
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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 Power. The PSE&G segment transmits electricity; and 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 to customers.
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