Chartwell Investment Partners LLC grew its stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 4.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,649 shares of the utilities provider’s stock after acquiring an additional 2,404 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Public Service Enterprise Group were worth $2,779,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. FCG Advisors LLC increased its stake in shares of Public Service Enterprise Group by 7.8% in the 3rd quarter. FCG Advisors LLC now owns 12,910 shares of the utilities provider’s stock worth $682,000 after acquiring an additional 938 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in shares of Public Service Enterprise Group by 3.3% in the 2nd quarter. Pinnacle Associates Ltd. now owns 30,718 shares of the utilities provider’s stock worth $1,663,000 after acquiring an additional 993 shares during the last quarter. State Treasurer State of Michigan increased its stake in shares of Public Service Enterprise Group by 0.7% in the 2nd quarter. State Treasurer State of Michigan now owns 149,622 shares of the utilities provider’s stock worth $8,101,000 after acquiring an additional 1,000 shares during the last quarter. Hartford Financial Management Inc. increased its stake in shares of Public Service Enterprise Group by 40.0% in the 2nd quarter. Hartford Financial Management Inc. now owns 3,500 shares of the utilities provider’s stock worth $189,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Reilly Financial Advisors LLC increased its stake in shares of Public Service Enterprise Group by 49.2% in the 3rd quarter. Reilly Financial Advisors LLC now owns 3,031 shares of the utilities provider’s stock worth $160,000 after acquiring an additional 1,000 shares during the last quarter. 67.35% of the stock is owned by institutional investors and hedge funds.

A number of analysts have issued reports on PEG shares. Wells Fargo & Co cut their target price on Public Service Enterprise Group from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, September 17th. Macquarie raised their price objective on Public Service Enterprise Group from $55.50 to $57.00 and gave the stock an “outperform” rating in a research report on Monday, September 24th. Deutsche Bank cut their price objective on Public Service Enterprise Group from $58.00 to $57.00 and set a “hold” rating for the company in a research report on Wednesday, October 31st. ValuEngine raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Finally, Morgan Stanley set a $59.00 price objective on Public Service Enterprise Group and gave the stock a “buy” rating in a research report on Thursday, October 11th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Public Service Enterprise Group currently has a consensus rating of “Buy” and a consensus target price of $56.46.

Shares of NYSE:PEG opened at $54.56 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.72 and a quick ratio of 0.51. The stock has a market cap of $27.45 billion, a P/E ratio of 18.62, a price-to-earnings-growth ratio of 2.61 and a beta of 0.28. Public Service Enterprise Group Inc. has a 12-month low of $46.19 and a 12-month high of $56.68.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.62 billion. Public Service Enterprise Group had a return on equity of 11.24% and a net margin of 23.54%. During the same period last year, the company earned $0.82 EPS. On average, sell-side analysts forecast that Public Service Enterprise Group Inc. will post 3.1 EPS for the current year.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 52,407 shares of Public Service Enterprise Group stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $52.57, for a total value of $2,755,035.99. Following the completion of the transaction, the chairman now directly owns 558,073 shares of the company’s stock, valued at approximately $29,337,897.61. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Derek M. Dirisio sold 2,300 shares of Public Service Enterprise Group stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $53.02, for a total value of $121,946.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,942 shares of company stock valued at $8,272,885. 0.58% of the stock is currently owned by corporate insiders.

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About Public Service Enterprise Group

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; and 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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