Cerebellum GP LLC Purchases 1,248 Shares of Public Service Enterprise Group Inc. (NYSE:PEG)

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Cerebellum GP LLC raised its stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 1,006.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,372 shares of the utilities provider’s stock after purchasing an additional 1,248 shares during the quarter. Cerebellum GP LLC’s holdings in Public Service Enterprise Group were worth $71,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PEG. Bank of Nova Scotia boosted its holdings in shares of Public Service Enterprise Group by 0.4% in the second quarter. Bank of Nova Scotia now owns 340,044 shares of the utilities provider’s stock worth $20,001,000 after acquiring an additional 1,505 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Public Service Enterprise Group by 3.6% in the second quarter. Daiwa Securities Group Inc. now owns 20,177 shares of the utilities provider’s stock worth $1,187,000 after buying an additional 700 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in shares of Public Service Enterprise Group in the second quarter worth $90,000. Elkfork Partners LLC raised its position in shares of Public Service Enterprise Group by 44.4% in the second quarter. Elkfork Partners LLC now owns 44,200 shares of the utilities provider’s stock worth $2,600,000 after buying an additional 13,600 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Public Service Enterprise Group by 0.8% in the second quarter. First Trust Advisors LP now owns 1,177,977 shares of the utilities provider’s stock worth $69,289,000 after buying an additional 9,824 shares in the last quarter. 69.28% of the stock is owned by institutional investors.

In other Public Service Enterprise Group news, CFO Daniel J. Cregg sold 625 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $60.82, for a total transaction of $38,012.50. Following the sale, the chief financial officer now directly owns 59,137 shares of the company’s stock, valued at approximately $3,596,712.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Ralph A. Larossa sold 1,650 shares of Public Service Enterprise Group stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $63.05, for a total value of $104,032.50. The disclosure for this sale can be found here. Insiders sold 9,201 shares of company stock worth $561,770 over the last three months. 0.51% of the stock is owned by insiders.

A number of equities research analysts recently issued reports on PEG shares. Citigroup downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective on the stock. in a research report on Monday, July 29th. UBS Group increased their price objective on Public Service Enterprise Group from $67.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Mizuho increased their price objective on Public Service Enterprise Group from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays initiated coverage on Public Service Enterprise Group in a research report on Tuesday, August 13th. They issued an “overweight” rating and a $63.00 price objective on the stock. Finally, Bank of America downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a research report on Friday, July 19th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $63.16.

Shares of NYSE:PEG traded up $0.16 on Friday, reaching $61.43. 1,284,671 shares of the company traded hands, compared to its average volume of 2,475,536. The business’s 50-day simple moving average is $62.17 and its 200 day simple moving average is $60.20. Public Service Enterprise Group Inc. has a 52 week low of $49.22 and a 52 week high of $63.88. The stock has a market capitalization of $31.31 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 5.16 and a beta of 0.28. The company has a current ratio of 0.75, a quick ratio of 0.52 and a debt-to-equity ratio of 0.99.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Public Service Enterprise Group had a return on equity of 11.01% and a net margin of 14.45%. During the same period last year, the firm earned $0.95 earnings per share. Sell-side analysts expect that Public Service Enterprise Group Inc. will post 3.25 EPS for the current fiscal year.

Public Service Enterprise Group 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.

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

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