Hamlin Capital Management LLC Boosts Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Hamlin Capital Management LLC grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,427,336 shares of the utilities provider’s stock after purchasing an additional 162,731 shares during the quarter. Public Service Enterprise Group makes up about 5.4% of Hamlin Capital Management LLC’s portfolio, making the stock its 2nd largest position. Hamlin Capital Management LLC owned 0.49% of Public Service Enterprise Group worth $216,543,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PEG. Wealth Enhancement Advisory Services LLC boosted its stake in Public Service Enterprise Group by 2.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 73,833 shares of the utilities provider’s stock worth $4,931,000 after acquiring an additional 1,555 shares in the last quarter. SteelPeak Wealth LLC raised its holdings in Public Service Enterprise Group by 15.2% during the first quarter. SteelPeak Wealth LLC now owns 7,564 shares of the utilities provider’s stock worth $505,000 after buying an additional 1,000 shares during the last quarter. LVW Advisors LLC raised its holdings in Public Service Enterprise Group by 27.6% during the first quarter. LVW Advisors LLC now owns 8,049 shares of the utilities provider’s stock worth $538,000 after buying an additional 1,739 shares during the last quarter. Kowal Investment Group LLC raised its holdings in Public Service Enterprise Group by 35.8% during the first quarter. Kowal Investment Group LLC now owns 5,821 shares of the utilities provider’s stock worth $389,000 after buying an additional 1,536 shares during the last quarter. Finally, Norden Group LLC acquired a new position in Public Service Enterprise Group during the first quarter worth $510,000. 73.34% of the stock is owned by institutional investors.

Insider Activity

In other 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 transaction of $1,535,133.02. Following the sale, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related 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 value of $124,295.60. Following the transaction, the chief executive officer now owns 147,514 shares in the company, valued at $13,305,762.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the transaction, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,010 shares of company stock worth $3,397,855. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $89.63 on Friday. The stock has a market cap of $44.65 billion, a P/E ratio of 27.16, a price-to-earnings-growth ratio of 2.71 and a beta of 0.61. The firm’s fifty day simple moving average is $85.69 and its 200 day simple moving average is $77.84. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $92.20. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16.

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

Analysts Set New Price Targets

PEG has been the subject of several analyst reports. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. BMO Capital Markets increased their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Royal Bank of Canada raised their price objective on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. UBS Group raised their price objective on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They issued a “hold” rating and a $85.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.15.

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.