Community Bank N.A. Reduces Position in Public Service Enterprise Group Inc. (NYSE:PEG)

Community Bank N.A. lessened its position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 0.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 89,277 shares of the utilities provider’s stock after selling 540 shares during the quarter. Public Service Enterprise Group accounts for about 1.1% of Community Bank N.A.’s holdings, making the stock its 27th biggest position. Community Bank N.A.’s holdings in Public Service Enterprise Group were worth $5,542,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PEG. Berman Capital Advisors LLC grew its stake in shares of Public Service Enterprise Group by 79.0% in the 2nd quarter. Berman Capital Advisors LLC now owns 460 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 203 shares during the last quarter. Capital Investment Advisory Services LLC lifted its stake in shares of Public Service Enterprise Group by 123.0% during the third quarter. Capital Investment Advisory Services LLC now owns 475 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 262 shares in the last quarter. Stonebridge Capital Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the second quarter worth about $29,000. Executive Wealth Management LLC lifted its stake in shares of Public Service Enterprise Group by 137.4% during the second quarter. Executive Wealth Management LLC now owns 781 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 452 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA lifted its stake in shares of Public Service Enterprise Group by 357.4% during the second quarter. San Francisco Sentry Investment Group CA now owns 956 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 747 shares in the last quarter. Hedge funds and other institutional investors own 69.44% of the company’s stock.

In other Public Service Enterprise Group news, VP Daniel J. Cregg sold 625 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $57.33, for a total transaction of $35,831.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Ralph A. Larossa sold 1,650 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $57.15, for a total value of $94,297.50. Following the sale, the chief operating officer now owns 81,768 shares in the company, valued at approximately $4,673,041.20. The disclosure for this sale can be found here. Insiders have sold 61,608 shares of company stock worth $3,548,667 in the last 90 days. 0.51% of the stock is currently owned by insiders.

A number of brokerages have commented on PEG. UBS Group boosted their price objective on Public Service Enterprise Group from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Barclays assumed coverage on Public Service Enterprise Group in a research note on Tuesday, August 13th. They issued an “overweight” rating and a $63.00 price target on the stock. Mizuho boosted their price target on Public Service Enterprise Group from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a research note on Monday, July 29th. Finally, ValuEngine cut Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Public Service Enterprise Group has an average rating of “Hold” and an average price target of $63.16.

NYSE:PEG opened at $63.20 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.59 and a current ratio of 0.79. Public Service Enterprise Group Inc. has a one year low of $49.22 and a one year high of $63.88. The business’s 50-day simple moving average is $61.71 and its 200 day simple moving average is $59.97. The stock has a market cap of $31.54 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 6.65 and a beta of 0.30.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.04). Public Service Enterprise Group had a return on equity of 11.02% and a net margin of 14.41%. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the firm posted $0.64 EPS. On average, equities research analysts predict that Public Service Enterprise Group Inc. will post 3.23 EPS for the current year.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

Read More: What are earnings reports?

Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Inc. (NYSE:PEG).

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


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