Cetera Investment Advisers Has $450,000 Position in Public Service Enterprise Group Incorporated (PEG)

Cetera Investment Advisers lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 90.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,414 shares of the utilities provider’s stock after purchasing an additional 4,952 shares during the period. Cetera Investment Advisers’ holdings in Public Service Enterprise Group were worth $450,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. KBC Group NV increased its holdings 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 purchasing an additional 617 shares in the last quarter. FMR LLC increased its holdings in shares of Public Service Enterprise Group by 1.9% in the first quarter. FMR LLC now owns 2,166,576 shares of the utilities provider’s stock valued at $96,088,000 after purchasing an additional 40,125 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Public Service Enterprise Group by 4.1% in the second quarter. Oppenheimer & Co. Inc. now owns 134,336 shares of the utilities provider’s stock valued at $5,778,000 after purchasing an additional 5,263 shares in the last quarter. Rench Wealth Management Inc. increased its holdings in shares of Public Service Enterprise Group by 1.1% in the second quarter. Rench Wealth Management Inc. now owns 43,151 shares of the utilities provider’s stock valued at $1,856,000 after purchasing an additional 470 shares in the last quarter. Finally, People s United Financial Inc. boosted its stake in Public Service Enterprise Group by 174.1% in the second quarter. People s United Financial Inc. now owns 8,059 shares of the utilities provider’s stock valued at $347,000 after acquiring an additional 5,119 shares during the last quarter. 65.89% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Incorporated (NYSE:PEG) traded up 0.26% on Friday, hitting $49.49. 2,402,904 shares of the stock traded hands. Public Service Enterprise Group Incorporated has a 52 week low of $39.28 and a 52 week high of $49.64. The firm has a market capitalization of $25.04 billion, a PE ratio of 55.61 and a beta of 0.38. The stock has a 50 day moving average of $47.12 and a 200 day moving average of $45.20.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.05. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. During the same quarter in the previous year, the business posted $0.57 EPS. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post $2.92 earnings per share for the current year.

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A number of equities analysts have issued reports on the stock. Argus raised their price objective on shares of Public Service Enterprise Group from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America Corporation began coverage on shares of Public Service Enterprise Group in a research note on Tuesday. They issued a “neutral” rating and a $49.00 price objective on the stock. Jefferies Group LLC reissued a “hold” rating and set a $46.50 price target on shares of Public Service Enterprise Group in a research report on Thursday, October 12th. J P Morgan Chase & Co lifted their price target on shares of Public Service Enterprise Group from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $47.00 price target on shares of Public Service Enterprise Group in a research report on Tuesday, October 10th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $50.42.

In related news, insider Derek M. Dirisio sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $47.11, for a total value of $70,665.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Ralph Izzo sold 6,427 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $49.45, for a total transaction of $317,815.15. Following the completion of the sale, the chairman now directly owns 708,728 shares of the company’s stock, valued at $35,046,599.60. The disclosure for this sale can be found here. Insiders have sold a total of 172,040 shares of company stock worth $8,284,122 in the last 90 days. Company insiders own 0.61% of the company’s stock.

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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