SpiderRock Advisors LLC Has $636,000 Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

SpiderRock Advisors LLC trimmed its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 7,124 shares of the utilities provider’s stock after selling 507 shares during the quarter. SpiderRock Advisors LLC’s holdings in Public Service Enterprise Group were worth $636,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PEG. Family Firm Inc. acquired a new stake in Public Service Enterprise Group during the second quarter worth about $33,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group in the third quarter valued at approximately $48,000. Country Trust Bank acquired a new position in Public Service Enterprise Group during the second quarter valued at approximately $52,000. Finally, Friedenthal Financial bought a new stake in Public Service Enterprise Group during the second quarter worth $52,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares in the company, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the transaction, the chief executive officer now directly owns 147,514 shares in the company, valued at approximately $13,305,762.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,010 shares of company stock worth $3,397,855 over the last three months. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group Trading Up 1.9 %

NYSE PEG opened at $85.82 on Monday. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $92.20. The company has a current ratio of 0.68, a quick ratio of 0.46 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $42.76 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 3.14 and a beta of 0.61. The business’s 50-day moving average price is $86.80 and its two-hundred day moving average price is $79.28.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Analysts Set New Price Targets

PEG has been the subject of a number of research analyst reports. UBS Group boosted their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Barclays lowered their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Morgan Stanley raised their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Bank of America upped their price objective on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.69.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.