Krane Funds Advisors LLC Trims Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Krane Funds Advisors LLC cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 50.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,529 shares of the utilities provider’s stock after selling 2,564 shares during the quarter. Krane Funds Advisors LLC’s holdings in Public Service Enterprise Group were worth $226,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PEG. Park Avenue Securities LLC grew its position in Public Service Enterprise Group by 5.4% during the first quarter. Park Avenue Securities LLC now owns 26,733 shares of the utilities provider’s stock valued at $1,785,000 after buying an additional 1,378 shares during the period. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group during the first quarter valued at $36,000. Gateway Investment Advisers LLC increased its position in shares of Public Service Enterprise Group by 13.1% during the first quarter. Gateway Investment Advisers LLC now owns 9,406 shares of the utilities provider’s stock worth $628,000 after purchasing an additional 1,092 shares in the last quarter. Beech Hill Advisors Inc. raised its stake in Public Service Enterprise Group by 3.2% in the 1st quarter. Beech Hill Advisors Inc. now owns 14,250 shares of the utilities provider’s stock valued at $952,000 after purchasing an additional 445 shares during the last quarter. Finally, PFS Partners LLC lifted its holdings in Public Service Enterprise Group by 90.9% in the 1st quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 300 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $90.17 on Tuesday. The business has a 50-day simple moving average of $84.91 and a 200-day simple moving average of $77.26. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $92.20. The company has a market cap of $44.91 billion, a PE ratio of 24.98, a P/E/G ratio of 2.69 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. Public Service Enterprise Group’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 earnings per share. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Insider Activity

In related news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. 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 through this hyperlink. In related 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 value of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the transaction, the chief executive officer now owns 147,514 shares of the company’s stock, valued at $13,305,762.80. This represents 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. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PEG shares. UBS Group increased their target price 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. BMO Capital Markets lifted 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 note on Monday. Wells Fargo & Company raised their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Royal Bank of Canada upped their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Bank of America lifted their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.15.

About Public Service Enterprise Group

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.