Public Service Enterprise Group Incorporated (PEG) Shares Bought by BB&T Corp

BB&T Corp lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 28.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,485 shares of the utilities provider’s stock after acquiring an additional 7,678 shares during the quarter. BB&T Corp’s holdings in Public Service Enterprise Group were worth $1,595,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. KBC Group NV increased its position in shares of Public Service Enterprise Group by 1.2% in the second quarter. KBC Group NV now owns 54,191 shares of the utilities provider’s stock valued at $2,331,000 after acquiring an additional 617 shares during the last quarter. Advisory Services Network LLC increased its position in Public Service Enterprise Group by 11.7% during the second quarter. Advisory Services Network LLC now owns 5,149 shares of the utilities provider’s stock worth $221,000 after buying an additional 541 shares during the last quarter. Rench Wealth Management Inc. increased its position in Public Service Enterprise Group by 1.1% during the second quarter. Rench Wealth Management Inc. now owns 43,151 shares of the utilities provider’s stock worth $1,856,000 after buying an additional 470 shares during the last quarter. People s United Financial Inc. increased its position in Public Service Enterprise Group by 174.1% during the second quarter. People s United Financial Inc. now owns 8,059 shares of the utilities provider’s stock worth $347,000 after buying an additional 5,119 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in Public Service Enterprise Group by 4.1% during the second quarter. Oppenheimer & Co. Inc. now owns 134,336 shares of the utilities provider’s stock worth $5,778,000 after buying an additional 5,263 shares during the last quarter. 65.03% of the stock is currently owned by institutional investors and hedge funds.

Shares of Public Service Enterprise Group Incorporated (PEG) traded up $0.28 during mid-day trading on Tuesday, hitting $50.66. The company had a trading volume of 3,610,900 shares, compared to its average volume of 2,744,325. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $25,640.00, a PE ratio of 17.37, a P/E/G ratio of 6.59 and a beta of 0.39. Public Service Enterprise Group Incorporated has a fifty-two week low of $39.28 and a fifty-two week high of $51.03.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.62 billion. Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. The company’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 earnings per share. equities research analysts predict that Public Service Enterprise Group Incorporated will post 2.92 earnings per share for the current fiscal year.

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In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 20,833 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $46.50, for a total transaction of $968,734.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Derek M. Dirisio sold 1,500 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total transaction of $70,665.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 242,433 shares of company stock valued at $11,901,112. Company insiders own 0.61% of the company’s stock.

A number of equities analysts have weighed in on the company. Evercore ISI raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $46.75 to $50.00 in a research report on Monday, September 25th. Bank of America Corporation assumed coverage on Public Service Enterprise Group in a research report on Tuesday, October 24th. They set a “neutral” rating and a $49.00 price target on the stock. Barclays PLC raised Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $49.00 to $51.00 in a research report on Friday, September 22nd. Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Tuesday, October 10th. Finally, Wolfe Research upgraded Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a report on Monday, July 17th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $50.42.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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