Stevens Capital Management LP Takes $1.27 Million Position in Public Service Enterprise Group Incorporated $PEG

Stevens Capital Management LP acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,176 shares of the utilities provider’s stock, valued at approximately $1,267,000.

A number of other hedge funds also recently bought and sold shares of PEG. Twin Peaks Wealth Advisors LLC purchased a new position in Public Service Enterprise Group in the second quarter worth about $25,000. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at about $25,000. Cedar Mountain Advisors LLC bought a new position in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $27,000. GoalVest Advisory LLC boosted its holdings in shares of Public Service Enterprise Group by 166.7% in the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after buying an additional 225 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in shares of Public Service Enterprise Group in the third quarter worth approximately $38,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PEG. UBS Group reduced their target price on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a report on Wednesday, December 17th. Barclays cut their price objective on shares of Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating for the company in a research report on Thursday, January 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Monday, December 29th. TD Cowen lifted their target price on Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, BMO Capital Markets cut their price target on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $90.96.

Public Service Enterprise Group Stock Down 0.2%

Shares of PEG stock opened at $85.52 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $91.25. The company’s fifty day moving average price is $80.91 and its 200-day moving average price is $81.94. The company has a market capitalization of $42.69 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 2.77 and a beta of 0.59.

About Public Service Enterprise Group

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.