HM Payson & Co. Has $310,000 Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

HM Payson & Co. lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 117.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,477 shares of the utilities provider’s stock after acquiring an additional 1,877 shares during the quarter. HM Payson & Co.’s holdings in Public Service Enterprise Group were worth $310,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEG. Raymond James & Associates increased its holdings in shares of Public Service Enterprise Group by 315.2% in the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock valued at $162,590,000 after purchasing an additional 1,674,827 shares during the period. Sound Shore Management Inc. CT purchased a new stake in Public Service Enterprise Group in the 2nd quarter worth approximately $71,298,000. Hsbc Holdings PLC boosted its stake in shares of Public Service Enterprise Group by 43.2% during the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after buying an additional 732,443 shares during the period. Reaves W H & Co. Inc. grew its holdings 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 acquiring an additional 667,773 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Public Service Enterprise Group by 381.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock worth $59,023,000 after acquiring an additional 634,587 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction on 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 90 days, insiders sold 41,010 shares of company stock valued at $3,397,855. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Jefferies Financial Group started coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 price objective for the company. Morgan Stanley increased their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Royal Bank of Canada lifted their target price on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Barclays increased their price target on shares of Public Service Enterprise Group from $80.00 to $98.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Evercore ISI lifted their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $87.46.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $87.31 on Friday. 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 quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The company has a market cap of $43.49 billion, a P/E ratio of 26.46, a P/E/G ratio of 2.91 and a beta of 0.61. The business’s 50 day moving average is $86.48 and its two-hundred day moving average is $78.55.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS 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 for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the company earned $0.70 earnings per share. Public Service Enterprise Group’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group 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.