Vanguard Group Inc. Purchases 347,823 Shares of Public Service Enterprise Group Incorporated $PEG

Vanguard Group Inc. grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,308,870 shares of the utilities provider’s stock after purchasing an additional 347,823 shares during the period. Vanguard Group Inc. owned about 0.13% of Public Service Enterprise Group worth $5,450,678,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Eagle Wealth Strategies LLC boosted its position in Public Service Enterprise Group by 7.8% in the third quarter. Eagle Wealth Strategies LLC now owns 3,445 shares of the utilities provider’s stock worth $288,000 after purchasing an additional 249 shares during the last quarter. Atticus Wealth Management LLC lifted its stake in shares of Public Service Enterprise Group by 28.4% in the 3rd quarter. Atticus Wealth Management LLC now owns 11,209 shares of the utilities provider’s stock worth $935,000 after purchasing an additional 2,482 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in shares of Public Service Enterprise Group by 3.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 166,726 shares of the utilities provider’s stock worth $13,915,000 after buying an additional 5,391 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Public Service Enterprise Group by 38.7% during the third quarter. PNC Financial Services Group Inc. now owns 905,489 shares of the utilities provider’s stock valued at $75,572,000 after buying an additional 252,718 shares during the period. Finally, HighTower Advisors LLC increased its holdings in Public Service Enterprise Group by 3.3% during the third quarter. HighTower Advisors LLC now owns 191,964 shares of the utilities provider’s stock valued at $16,022,000 after buying an additional 6,083 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.6%

Shares of PEG opened at $86.90 on Wednesday. The company’s fifty day simple moving average is $80.52 and its 200-day simple moving average is $81.93. The company has a market cap of $43.37 billion, a P/E ratio of 20.89, a P/E/G ratio of 2.79 and a beta of 0.59. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $91.25.

Analyst Ratings Changes

PEG has been the topic of several research analyst reports. LADENBURG THALM/SH SH upgraded 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 report on Wednesday, January 7th. BMO Capital Markets lowered their price target on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a report on Tuesday, November 4th. Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $89.00 to $90.00 in a research note on Thursday, November 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. Finally, UBS Group dropped their target price on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.96.

Public Service Enterprise Group Profile

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.