Nisa Investment Advisors LLC Has $7.54 Million Position in Public Service Enterprise Group Inc. (NYSE:PEG)

Share on StockTwits

Nisa Investment Advisors LLC reduced its holdings in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,520 shares of the utilities provider’s stock after selling 3,900 shares during the period. Nisa Investment Advisors LLC’s holdings in Public Service Enterprise Group were worth $7,544,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Cornerstone Advisors Inc. grew its holdings in Public Service Enterprise Group by 15.7% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,256 shares of the utilities provider’s stock worth $74,000 after acquiring an additional 170 shares during the period. Capital Investment Advisors LLC boosted its position in shares of Public Service Enterprise Group by 2.5% during the 2nd quarter. Capital Investment Advisors LLC now owns 6,860 shares of the utilities provider’s stock worth $404,000 after purchasing an additional 170 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Public Service Enterprise Group by 6.7% during the 2nd quarter. Bessemer Group Inc. now owns 2,896 shares of the utilities provider’s stock worth $171,000 after purchasing an additional 182 shares in the last quarter. ELCO Management Co. LLC boosted its position in shares of Public Service Enterprise Group by 2.7% during the 2nd quarter. ELCO Management Co. LLC now owns 7,498 shares of the utilities provider’s stock worth $441,000 after purchasing an additional 198 shares in the last quarter. Finally, Berman Capital Advisors LLC boosted its position in shares of Public Service Enterprise Group by 79.0% during the 2nd quarter. Berman Capital Advisors LLC now owns 460 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 203 shares in the last quarter. Hedge funds and other institutional investors own 69.44% of the company’s stock.

Shares of NYSE PEG opened at $62.29 on Monday. Public Service Enterprise Group Inc. has a fifty-two week low of $49.22 and a fifty-two week high of $63.88. The stock has a market cap of $31.37 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 6.37 and a beta of 0.30. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.59 and a current ratio of 0.79. The firm’s 50-day simple moving average is $61.47 and its 200 day simple moving average is $59.87.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.04). Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the previous year, the business posted $0.64 EPS. On average, sell-side analysts predict that Public Service Enterprise Group Inc. will post 3.25 EPS for the current year.

PEG has been the topic of a number of research analyst reports. Barclays initiated coverage on shares of Public Service Enterprise Group in a research report on Tuesday, August 13th. They set an “overweight” rating and a $63.00 price objective on the stock. Citigroup cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective on the stock. in a research report on Monday, July 29th. ValuEngine cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Mizuho increased their price objective on shares of Public Service Enterprise Group from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Bank of America cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research report on Friday, July 19th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $63.00.

In related news, COO Ralph A. Larossa sold 1,650 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $57.15, for a total value of $94,297.50. Following the transaction, the chief operating officer now owns 81,768 shares of the company’s stock, valued at approximately $4,673,041.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Daniel J. Cregg sold 625 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $60.82, for a total transaction of $38,012.50. Following the completion of the transaction, the chief financial officer now directly owns 59,137 shares in the company, valued at approximately $3,596,712.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,608 shares of company stock worth $3,548,667. 0.51% of the stock is owned by insiders.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

See Also: Yield Curve

Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Inc. (NYSE:PEG).

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

Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

BriaCoin Hits Market Capitalization of $65,357.00
BriaCoin Hits Market Capitalization of $65,357.00
Liquidity Network Hits 24-Hour Trading Volume of $31,936.00
Liquidity Network Hits 24-Hour Trading Volume of $31,936.00
Cappasity Price Down 20.3% Over Last Week
Cappasity Price Down 20.3% Over Last Week
LendingClub Corp  Expected to Announce Earnings of $0.04 Per Share
LendingClub Corp Expected to Announce Earnings of $0.04 Per Share
Echostar  Downgraded to “Hold” at BidaskClub
Echostar Downgraded to “Hold” at BidaskClub
BidaskClub Lowers Preformed Line Products  to Hold
BidaskClub Lowers Preformed Line Products to Hold


 
© 2006-2019 Zolmax.