Shell Asset Management Co. Cuts Holdings in Public Service Enterprise Group Incorporated $PEG

Shell Asset Management Co. lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 82.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,476 shares of the utilities provider’s stock after selling 26,588 shares during the quarter. Shell Asset Management Co.’s holdings in Public Service Enterprise Group were worth $457,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Empowered Funds LLC increased its stake in Public Service Enterprise Group by 10.3% in the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock valued at $831,000 after acquiring an additional 940 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Public Service Enterprise Group by 40.7% in the 1st quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock worth $3,464,000 after purchasing an additional 12,172 shares in the last quarter. CWM LLC increased its position in shares of Public Service Enterprise Group by 7.5% during the 2nd quarter. CWM LLC now owns 17,969 shares of the utilities provider’s stock valued at $1,513,000 after purchasing an additional 1,253 shares during the last quarter. Mutual Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at about $330,000. Finally, Cullen Frost Bankers Inc. lifted its position in Public Service Enterprise Group by 2.2% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 18,501 shares of the utilities provider’s stock worth $1,557,000 after buying an additional 404 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on PEG. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $85.00 price target (down from $88.00) on shares of Public Service Enterprise Group in a research report on Thursday, January 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. UBS Group decreased their target price on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. TD Cowen upped their price target on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price objective on the stock in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.96.

Public Service Enterprise Group Trading Up 0.6%

NYSE PEG opened at $86.90 on Wednesday. The stock has a market cap of $43.37 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $91.25. The stock has a 50 day simple moving average of $80.52 and a two-hundred day simple moving average of $81.93. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93.

About Public Service Enterprise Group

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.