Foundry Partners LLC Has $5.29 Million Position in Public Service Enterprise Group Incorporated (PEG)

Foundry Partners LLC lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,315 shares of the utilities provider’s stock after selling 11,000 shares during the period. Foundry Partners LLC’s holdings in Public Service Enterprise Group were worth $5,287,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Hudock Capital Group LLC increased its holdings in shares of Public Service Enterprise Group by 38.8% during the 2nd quarter. Hudock Capital Group LLC now owns 2,629 shares of the utilities provider’s stock worth $113,000 after purchasing an additional 735 shares during the period. Vantage Investment Advisors LLC increased its holdings in shares of Public Service Enterprise Group by 35.3% during the 2nd quarter. Vantage Investment Advisors LLC now owns 2,685 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 700 shares during the period. Parallel Advisors LLC increased its stake in Public Service Enterprise Group by 6.0% in the second quarter. Parallel Advisors LLC now owns 2,772 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 157 shares during the period. IHT Wealth Management LLC increased its stake in Public Service Enterprise Group by 45.9% in the second quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock valued at $131,000 after acquiring an additional 202 shares during the period. Finally, Gradient Investments LLC increased its stake in Public Service Enterprise Group by 331.2% in the second quarter. Gradient Investments LLC now owns 3,234 shares of the utilities provider’s stock valued at $139,000 after acquiring an additional 2,484 shares during the period. 65.02% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by Community Financial News and is the property of of Community Financial News. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.com-unik.info/2017/11/06/foundry-partners-llc-has-5-29-million-position-in-public-service-enterprise-group-incorporated-peg.html.

PEG has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Wolfe Research upgraded shares of Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a research report on Monday, July 17th. BidaskClub upgraded shares of Public Service Enterprise Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Citigroup Inc. reiterated a “neutral” rating and set a $49.00 target price (up from $44.00) on shares of Public Service Enterprise Group in a research report on Thursday, August 10th. Finally, Morgan Stanley upped their target price on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Public Service Enterprise Group currently has an average rating of “Buy” and an average target price of $50.42.

In related news, Chairman Ralph Izzo sold 60,793 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $49.70, for a total transaction of $3,021,412.10. Following the sale, the chairman now directly owns 748,778 shares in the company, valued at approximately $37,214,266.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Derek M. Dirisio sold 1,500 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total transaction of $70,665.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,433 shares of company stock valued at $10,247,152. 0.61% of the stock is currently owned by corporate insiders.

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) opened at $50.31 on Monday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.56 and a current ratio of 0.80. The stock has a market cap of $25,460.00, a PE ratio of 17.35, a PEG ratio of 6.59 and a beta of 0.39. Public Service Enterprise Group Incorporated has a 12 month low of $39.28 and a 12 month high of $50.56.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.62 billion. Public Service Enterprise Group had a return on equity of 11.33% and a net margin of 5.73%. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 EPS. research analysts forecast that Public Service Enterprise Group Incorporated will post 2.92 earnings per share for the current year.

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)

What are top analysts saying about Public Service Enterprise Group Incorporated? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Public Service Enterprise Group Incorporated and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit