Colonial River Investments LLC Invests $634,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Colonial River Investments LLC bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 7,111 shares of the utilities provider's stock, valued at approximately $634,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PEG. Heritage Wealth Management Inc. purchased a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $422,000. QRG Capital Management Inc. increased its stake in Public Service Enterprise Group by 28.0% in the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider's stock valued at $5,227,000 after buying an additional 15,505 shares during the last quarter. CWM LLC increased its stake in shares of Public Service Enterprise Group by 72.3% during the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider's stock worth $1,532,000 after purchasing an additional 8,723 shares during the last quarter. Czech National Bank increased its stake in shares of Public Service Enterprise Group by 8.3% during the 2nd quarter. Czech National Bank now owns 94,913 shares of the utilities provider's stock worth $6,995,000 after purchasing an additional 7,235 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Public Service Enterprise Group by 145.5% during the 1st quarter. SG Americas Securities LLC now owns 64,437 shares of the utilities provider's stock worth $4,303,000 after purchasing an additional 38,188 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PEG shares. Barclays decreased their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. BMO Capital Markets raised their price target 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, 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 stock an "outperform" rating in a report on Monday, July 15th. Scotiabank raised their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company raised their price objective 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. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $86.69.

Insider Activity

In other news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction dated 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 of the company's stock, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction that occurred on 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 approximately $13,305,762.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 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. 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 valued at $3,397,855. Corporate insiders own 0.57% of the company's stock.

Public Service Enterprise Group Trading Up 1.9 %

Shares of PEG stock traded up $1.59 during mid-day trading on Friday, reaching $85.82. The stock had a trading volume of 2,639,223 shares, compared to its average volume of 2,528,948. The stock's 50-day moving average price is $86.80 and its two-hundred day moving average price is $79.28. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $92.20. The firm has a market capitalization of $42.76 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 3.14 and a beta of 0.61. The company has a current ratio of 0.68, a quick ratio of 0.46 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.44 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

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.