Exchange Traded Concepts LLC Sells 6,529 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Exchange Traded Concepts LLC reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 64.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,599 shares of the utilities provider's stock after selling 6,529 shares during the period. Exchange Traded Concepts LLC's holdings in Public Service Enterprise Group were worth $321,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Retirement Planning Group LLC bought a new stake in shares of Public Service Enterprise Group during the third quarter valued at about $333,000. HCR Wealth Advisors bought a new stake in shares of Public Service Enterprise Group during the third quarter valued at about $207,000. LVW Advisors LLC increased its position in shares of Public Service Enterprise Group by 8.2% during the third quarter. LVW Advisors LLC now owns 9,252 shares of the utilities provider's stock valued at $825,000 after buying an additional 705 shares during the period. Towerpoint Wealth LLC bought a new stake in shares of Public Service Enterprise Group during the third quarter valued at about $204,000. Finally, Merrion Investment Management Co LLC increased its position in shares of Public Service Enterprise Group by 4.6% during the third quarter. Merrion Investment Management Co LLC now owns 11,300 shares of the utilities provider's stock valued at $1,008,000 after buying an additional 500 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

PEG traded up $0.06 during midday trading on Friday, hitting $89.76. The stock had a trading volume of 1,581,139 shares, compared to its average volume of 2,809,905. The company has a market cap of $44.71 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 2.69 and a beta of 0.61. The business has a fifty day moving average of $84.72 and a 200 day moving average of $77.02. 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 1 year low of $56.85 and a 1 year high of $92.20.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released 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 company had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business's revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company posted $0.70 EPS. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BMO Capital Markets upped their price target on Public Service Enterprise Group from $78.00 to $86.00 and gave the company a "market perform" rating in a research report on Friday, August 2nd. Evercore ISI upped their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 8th. Royal Bank of Canada upped 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 research report on Monday, July 15th. UBS Group upped their price objective on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 24th. Finally, Morgan Stanley upped their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an "overweight" rating in a research report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.92.

Insider Activity

In other news, EVP Tamara Louise Linde sold 19,127 shares of the 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 sale, the executive vice president now owns 67,524 shares of the company's stock, valued at approximately $5,419,476.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 in the company, valued at $13,305,762.80. This represents 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 through this hyperlink. Also, EVP Tamara Louise Linde sold 19,127 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president now owns 67,524 shares of the company's stock, 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. Over the last 90 days, insiders sold 41,010 shares of company stock valued at $3,397,855. 0.57% of the stock is currently owned by company insiders.

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.