Public Service Enterprise Group Incorporated $PEG Shares Bought by Greenland Capital Management LP

Greenland Capital Management LP raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 238.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 69,734 shares of the utilities provider’s stock after purchasing an additional 49,157 shares during the period. Greenland Capital Management LP’s holdings in Public Service Enterprise Group were worth $5,820,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. HM Payson & Co. increased its holdings in Public Service Enterprise Group by 3.3% in the third quarter. HM Payson & Co. now owns 3,755 shares of the utilities provider’s stock valued at $313,000 after buying an additional 120 shares during the last quarter. Rossby Financial LCC grew its position in shares of Public Service Enterprise Group by 5.5% in the 3rd quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock worth $191,000 after acquiring an additional 121 shares in the last quarter. Transcend Capital Advisors LLC grew its position in shares of Public Service Enterprise Group by 2.6% in the 3rd quarter. Transcend Capital Advisors LLC now owns 4,916 shares of the utilities provider’s stock worth $410,000 after acquiring an additional 125 shares in the last quarter. Sage Private Wealth Group LLC increased its holdings in shares of Public Service Enterprise Group by 4.9% in the 3rd quarter. Sage Private Wealth Group LLC now owns 2,831 shares of the utilities provider’s stock valued at $236,000 after acquiring an additional 133 shares during the last quarter. Finally, Sowell Financial Services LLC raised its position in shares of Public Service Enterprise Group by 3.1% during the 3rd quarter. Sowell Financial Services LLC now owns 4,525 shares of the utilities provider’s stock valued at $378,000 after acquiring an additional 134 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $86.27 on Tuesday. The stock has a market cap of $43.06 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 2.77 and a beta of 0.59. 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 12 month low of $74.67 and a 12 month high of $91.25. The stock’s 50 day moving average price is $81.02 and its 200 day moving average price is $81.86.

Analyst Ratings Changes

A number of research firms have commented on PEG. Wells Fargo & Company raised shares of Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $88.00 to $92.00 in a report on Tuesday, January 20th. TD Cowen increased their target price on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Barclays cut their target price 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. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. Finally, LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price objective on the stock in a report on Wednesday, January 7th. One investment 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 stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.96.

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.