First Bank & Trust Takes Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

First Bank & Trust acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,634 shares of the utilities provider’s stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEG. Raymond James & Associates raised its stake in Public Service Enterprise Group by 30.1% during the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock valued at $255,954,000 after buying an additional 663,012 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Public Service Enterprise Group by 43.2% in the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after acquiring an additional 732,443 shares during the period. Dimensional Fund Advisors LP boosted its position in Public Service Enterprise Group by 10.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,734,257 shares of the utilities provider’s stock worth $127,809,000 after purchasing an additional 163,333 shares during the last quarter. Reaves W H & Co. Inc. grew its stake in shares of Public Service Enterprise Group by 73.9% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock valued at $104,978,000 after purchasing an additional 667,773 shares during the period. Finally, Energy Income Partners LLC grew its stake in shares of Public Service Enterprise Group by 14.2% during the 1st quarter. Energy Income Partners LLC now owns 1,557,690 shares of the utilities provider’s stock valued at $104,023,000 after purchasing an additional 193,736 shares during the period. Institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

PEG has been the topic of a number of research reports. UBS Group raised their price objective on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Barclays boosted their price objective on shares of Public Service Enterprise Group from $80.00 to $98.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Royal Bank of Canada raised their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Bank of America boosted their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.15.

Insider Buying and Selling

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the transaction, the executive vice president now directly owns 48,397 shares in the company, valued at $4,385,252.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total transaction of $124,295.60. Following the transaction, the chief executive officer now directly owns 147,514 shares in the company, valued at approximately $13,305,762.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Tamara Louise Linde sold 9,564 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the sale, the executive vice president now directly owns 48,397 shares in the company, valued at $4,385,252.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,010 shares of company stock worth $3,397,855. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Down 1.0 %

Shares of Public Service Enterprise Group stock opened at $89.63 on Friday. The firm has a fifty day moving average price of $85.69 and a 200 day moving average price of $77.84. The stock has a market cap of $44.65 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 2.71 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $92.20. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $0.70 EPS. Public Service Enterprise Group’s quarterly revenue was up .1% compared to the same quarter last year. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

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.