M Holdings Securities Inc. Makes New Investment in Public Service Enterprise Group Incorporated $PEG

M Holdings Securities Inc. bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,850 shares of the utilities provider’s stock, valued at approximately $806,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEG. Brighton Jones LLC grew its position in shares of Public Service Enterprise Group by 20.7% in the 3rd quarter. Brighton Jones LLC now owns 23,500 shares of the utilities provider’s stock valued at $1,582,000 after acquiring an additional 4,025 shares during the period. Candriam S.C.A. raised its holdings in shares of Public Service Enterprise Group by 8.2% in the 3rd quarter. Candriam S.C.A. now owns 114,100 shares of the utilities provider’s stock valued at $7,712,000 after purchasing an additional 8,668 shares during the period. StoneX Group Inc. raised its holdings in shares of Public Service Enterprise Group by 137.3% in the 3rd quarter. StoneX Group Inc. now owns 8,062 shares of the utilities provider’s stock valued at $591,000 after purchasing an additional 4,664 shares during the period. Pegasus Asset Management Inc. lifted its stake in Public Service Enterprise Group by 16.9% in the 3rd quarter. Pegasus Asset Management Inc. now owns 3,446 shares of the utilities provider’s stock valued at $232,000 after purchasing an additional 497 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Public Service Enterprise Group by 13.9% in the 3rd quarter. Parallel Advisors LLC now owns 5,327 shares of the utilities provider’s stock valued at $359,000 after purchasing an additional 652 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Down 0.4%

Shares of PEG opened at $74.72 on Wednesday. Public Service Enterprise Group Incorporated has a 52 week low of $66.15 and a 52 week high of $87.63. The firm has a market cap of $37.25 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 2.58 and a beta of 0.48. The firm’s 50-day simple moving average is $71.25 and its 200 day simple moving average is $77.85. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.01.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 2nd. The utilities provider reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.04). The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.19 billion. Public Service Enterprise Group had a net margin of 14.31% and a return on equity of 12.40%. The firm’s revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.13 earnings per share. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of research analyst reports. Bank of America reduced their price target on Public Service Enterprise Group from $87.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, October 27th. Weiss Ratings restated a “hold (c)” rating on shares of Public Service Enterprise Group in a research note on Tuesday, November 3rd. LADENBURG THALM/SH SH cut their price objective on Public Service Enterprise Group from $80.50 to $75.50 and set a “neutral” rating for the company in a research report on Tuesday, November 3rd. Royal Bank Of Canada reduced their target price on Public Service Enterprise Group from $81.00 to $76.00 in a research note on Monday, October 26th. Finally, Wells Fargo & Company reduced their target price on Public Service Enterprise Group from $89.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, November 3rd. Seven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Hold” and an average target price of $79.32.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph LaRossa sold 2,083 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $73.60, for a total transaction of $153,308.80. Following the transaction, the chief executive officer owned 276,487 shares in the company, valued at approximately $20,349,443.20. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group (PSEG) is an energy company headquartered in New Jersey. Its principal subsidiary, Public Service Electric and Gas Company (PSE&G), provides regulated electric and natural gas service to residential, commercial and industrial customers across much of the state. PSE&G operates electric and gas transmission and distribution systems and offers energy-efficiency programs. Through its generation business, PSEG also operates nuclear power plants in New Jersey, producing electricity for the regional power market.