Eurizon Capital SGR S.p.A. Purchases 109,467 Shares of Public Service Enterprise Group Incorporated $PEG

Eurizon Capital SGR S.p.A. raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 18.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 692,222 shares of the utilities provider’s stock after purchasing an additional 109,467 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Public Service Enterprise Group were worth $46,626,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of Public Service Enterprise Group during the third quarter worth $470,000. Fifth Third Bancorp lifted its holdings in Public Service Enterprise Group by 0.7% in the third quarter. Fifth Third Bancorp now owns 118,349 shares of the utilities provider’s stock valued at $7,970,000 after buying an additional 787 shares during the period. Three Bridge Wealth Advisors LLC acquired a new position in Public Service Enterprise Group in the third quarter valued at $67,000. Maryland State Retirement & Pension System lifted its holdings in Public Service Enterprise Group by 7.8% in the third quarter. Maryland State Retirement & Pension System now owns 29,638 shares of the utilities provider’s stock valued at $1,996,000 after buying an additional 2,147 shares during the period. Finally, Ritholtz Wealth Management bought a new stake in Public Service Enterprise Group during the third quarter valued at $324,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Up 1.3%

Public Service Enterprise Group stock opened at $75.80 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 1.39. Public Service Enterprise Group Incorporated has a 12-month low of $66.15 and a 12-month high of $87.63. The firm’s fifty day moving average is $71.33 and its 200 day moving average is $77.78. The company has a market capitalization of $37.79 billion, a PE ratio of 17.48, a PEG ratio of 2.57 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 2nd. The utilities provider reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.04). The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.19 billion. Public Service Enterprise Group had a return on equity of 12.40% and a net margin of 14.31%. 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. As a group, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PEG shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Public Service Enterprise Group in a report on Tuesday, November 3rd. BTIG Research lowered their price objective on Public Service Enterprise Group from $94.00 to $84.00 and set a “buy” rating for the company in a research report on Tuesday, October 20th. The Goldman Sachs Group dropped their price objective on Public Service Enterprise Group from $86.00 to $83.00 in a research note on Thursday, October 15th. Morgan Stanley cut their target price on Public Service Enterprise Group from $88.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. Finally, Ladenburg Thalmann & Co. Inc. decreased their target price on Public Service Enterprise Group from $80.50 to $75.50 and set a “neutral” rating for the company in a research note on Tuesday, November 3rd. Seven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Hold” and an average target price of $79.32.

Insiders Place Their Bets

In other news, CEO Ralph LaRossa sold 2,083 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were 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 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 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.