Public Service Enterprise Group Incorporated $PEG Position Boosted by Greenland Capital Management LP

Greenland Capital Management LP increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 238.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,734 shares of the utilities provider’s stock after purchasing an additional 49,157 shares during the quarter. Greenland Capital Management LP’s holdings in Public Service Enterprise Group were worth $5,820,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC acquired a new position in Public Service Enterprise Group in the second quarter worth approximately $25,000. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth $25,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the third quarter valued at $27,000. GoalVest Advisory LLC boosted its position in shares of Public Service Enterprise Group by 166.7% in the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 225 shares during the period. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at $38,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PEG. Wells Fargo & Company upgraded Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $88.00 to $92.00 in a report on Tuesday, January 20th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price on the stock in a research report on Wednesday, January 7th. Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and upped their price target for the company from $89.00 to $90.00 in a research report on Thursday, November 6th. BMO Capital Markets decreased their price objective on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research note on Tuesday, November 4th. Finally, UBS Group lowered their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $90.96.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $86.27 on Tuesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. The firm has a market capitalization of $43.06 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 2.77 and a beta of 0.59. The company has a 50 day simple moving average of $81.02 and a 200-day simple moving average of $81.86. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $91.25.

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.