Public Service Enterprise Group Incorporated $PEG Stock: Lido Advisors LLC Grows Holdings

Lido Advisors LLC boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 30.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,175 shares of the utilities provider’s stock after acquiring an additional 8,722 shares during the quarter. Lido Advisors LLC’s holdings in Public Service Enterprise Group were worth $2,503,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. 71 West Capital Partners grew its position in Public Service Enterprise Group by 9.0% in the third quarter. 71 West Capital Partners now owns 3,313 shares of the utilities provider’s stock worth $223,000 after acquiring an additional 274 shares in the last quarter. AlphaCore Capital LLC increased its stake in shares of Public Service Enterprise Group by 32.1% during the 3rd quarter. AlphaCore Capital LLC now owns 15,467 shares of the utilities provider’s stock worth $1,042,000 after purchasing an additional 3,760 shares during the last quarter. Fulcrum Asset Management LLP raised its holdings in shares of Public Service Enterprise Group by 5,256.2% during the 3rd quarter. Fulcrum Asset Management LLP now owns 1,714 shares of the utilities provider’s stock valued at $116,000 after purchasing an additional 1,682 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Public Service Enterprise Group by 8.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 195,004 shares of the utilities provider’s stock valued at $13,239,000 after purchasing an additional 15,440 shares in the last quarter. Finally, StoneRidge PMG Advisors LLC bought a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $338,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

PEG stock traded up $1.00 during midday trading on Friday, hitting $75.80. 2,372,669 shares of the company traded hands, compared to its average volume of 3,370,294. Public Service Enterprise Group Incorporated has a twelve month low of $66.15 and a twelve month high of $87.63. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 1.39. The business has a 50 day simple moving average of $71.33 and a 200-day simple moving average of $77.78. The stock has a market capitalization of $37.79 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 2.57 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 2nd. The utilities provider reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.04). Public Service Enterprise Group had a return on equity of 12.40% and a net margin of 14.31%. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the previous year, the firm posted $1.13 earnings per share. Public Service Enterprise Group’s quarterly revenue was down 6.4% compared to the same quarter last year. As a group, equities research analysts predict that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph LaRossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $73.60, for a total value of $153,308.80. Following the transaction, the chief executive officer owned 276,487 shares in the company, valued at $20,349,443.20. This trade represents a 0.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Public Service Enterprise Group from $81.00 to $77.00 and set a “neutral” rating for the company in a report on Monday, October 19th. Barclays cut their target price on Public Service Enterprise Group from $83.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, October 12th. Bank of America cut their target price on Public Service Enterprise Group from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. Scotiabank reduced their price target on Public Service Enterprise Group from $92.00 to $77.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 30th. Finally, Argus decreased their price target on Public Service Enterprise Group from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, September 29th. Seven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Hold” and a consensus target price of $79.32.

About Public Service Enterprise Group

Public Service Enterprise Group (PSEG) is an energy company headquartered in New Jersey. Its principal subsidiary, Public Service Electric and Gas Company (PSE&G), provides regulated electric and natural gas service to residential, commercial and industrial customers across much of the state. PSE&G operates electric and gas transmission and distribution systems and offers energy-efficiency programs. Through its generation business, PSEG also operates nuclear power plants in New Jersey, producing electricity for the regional power market.