Vanguard Group Inc. Acquires 347,823 Shares of Public Service Enterprise Group Incorporated $PEG

Vanguard Group Inc. boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,308,870 shares of the utilities provider’s stock after buying an additional 347,823 shares during the quarter. Vanguard Group Inc. owned approximately 13.09% of Public Service Enterprise Group worth $5,450,678,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PEG. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at about $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group in the second quarter valued at approximately $25,000. Cedar Mountain Advisors LLC bought a new position in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $27,000. GoalVest Advisory LLC grew 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 worth $30,000 after buying an additional 225 shares during the period. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $38,000. 73.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $85.00 target price (down from $88.00) on shares of Public Service Enterprise Group in a report on Thursday, January 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. Barclays reduced 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 report on Thursday, January 22nd. TD Cowen upped their target price on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, BTIG Research began coverage on Public Service Enterprise Group in a research note on Wednesday, October 22nd. They set a “buy” rating and a $98.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.96.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $86.90 on Wednesday. The company has a 50 day moving average of $80.52 and a 200 day moving average of $81.93. 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 stock has a market cap of $43.37 billion, a P/E ratio of 20.89, a P/E/G ratio of 2.79 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $91.25.

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.