Shell Asset Management Co. Sells 26,588 Shares of Public Service Enterprise Group Incorporated $PEG

Shell Asset Management Co. decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 82.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,476 shares of the utilities provider’s stock after selling 26,588 shares during the quarter. Shell Asset Management Co.’s holdings in Public Service Enterprise Group were worth $457,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PEG. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $25,000. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group in the second quarter worth $25,000. Cedar Mountain Advisors LLC bought a new position in Public Service Enterprise Group in the 3rd quarter valued at $27,000. GoalVest Advisory LLC increased its position in shares of Public Service Enterprise Group by 166.7% during the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 225 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth $38,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $86.90 on Wednesday. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $91.25. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $43.37 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59. The firm’s 50 day simple moving average is $80.52 and its 200 day simple moving average is $81.93.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. BTIG Research assumed coverage on shares of Public Service Enterprise Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 price target for the company. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price for the company in a research report on Wednesday, January 7th. Wells Fargo & Company raised shares of Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $88.00 to $92.00 in a report on Tuesday, January 20th. Barclays dropped their price objective on Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $85.00 price target (down previously from $88.00) on shares of Public Service Enterprise Group in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $90.96.

Public Service Enterprise Group Profile

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.