WCM Investment Management LLC Purchases 7,667 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

WCM Investment Management LLC boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 133.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,426 shares of the utilities provider's stock after purchasing an additional 7,667 shares during the quarter. WCM Investment Management LLC's holdings in Public Service Enterprise Group were worth $1,185,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Old Port Advisors increased its position in Public Service Enterprise Group by 0.5% during the third quarter. Old Port Advisors now owns 23,527 shares of the utilities provider's stock worth $2,099,000 after acquiring an additional 113 shares during the period. Smallwood Wealth Investment Management LLC increased its position in Public Service Enterprise Group by 1.3% during the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider's stock worth $827,000 after acquiring an additional 115 shares during the period. Cigna Investments Inc. New increased its position in Public Service Enterprise Group by 2.5% during the third quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider's stock worth $451,000 after acquiring an additional 124 shares during the period. Great Lakes Retirement Inc. increased its position in Public Service Enterprise Group by 0.4% during the third quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider's stock worth $2,619,000 after acquiring an additional 127 shares during the period. Finally, Brighton Jones LLC grew its stake in Public Service Enterprise Group by 1.8% during the second quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider's stock worth $548,000 after buying an additional 131 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Up 0.3 %

PEG stock traded up $0.23 during midday trading on Wednesday, reaching $86.96. 1,002,698 shares of the company's stock traded hands, compared to its average volume of 2,779,765. The company has a market cap of $43.33 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 3.17 and a beta of 0.61. The firm's fifty day moving average price is $87.08 and its 200-day moving average price is $79.64. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $92.20.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 EPS. As a group, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

PEG has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They set a "hold" rating and a $85.00 target price on the stock. Scotiabank raised their price target 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. 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. Evercore ISI raised their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an "outperform" rating in a report on Tuesday, October 8th. Finally, Barclays lowered their price objective 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. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $86.69.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares of the company's stock, valued at $2,271,660.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Richard T. Thigpen sold 5,900 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares of the company's stock, valued at approximately $2,271,660.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of the business's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the transaction, the executive vice president now directly owns 48,397 shares in the company, valued at $4,385,252.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,910 shares of company stock valued at $3,916,760 in the last three months. 0.57% of the stock is currently owned by 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.