NEOS Investment Management LLC Increases Position in Public Service Enterprise Group Incorporated $PEG

NEOS Investment Management LLC raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 42.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,409 shares of the utilities provider’s stock after acquiring an additional 19,465 shares during the period. NEOS Investment Management LLC’s holdings in Public Service Enterprise Group were worth $5,459,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in Public Service Enterprise Group during the second quarter worth $564,238,000. Bank of America Corp DE raised its holdings in shares of Public Service Enterprise Group by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after acquiring an additional 3,469,886 shares during the period. Invesco Ltd. boosted its position in shares of Public Service Enterprise Group by 27.8% during the 2nd quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider’s stock valued at $544,973,000 after acquiring an additional 1,408,707 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Public Service Enterprise Group by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 64,961,047 shares of the utilities provider’s stock valued at $5,468,421,000 after acquiring an additional 1,199,371 shares during the last quarter. Finally, Railway Pension Investments Ltd grew its holdings in shares of Public Service Enterprise Group by 97.5% in the third quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock valued at $158,390,000 after purchasing an additional 937,100 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on PEG. BTIG Research assumed coverage on shares of Public Service Enterprise Group in a research note on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price on the stock. TD Cowen lifted their price target on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. LADENBURG THALM/SH SH upgraded 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. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. Finally, Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $89.00 to $90.00 in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $90.96.

Public Service Enterprise Group Stock Down 3.0%

Shares of NYSE PEG opened at $84.32 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27. The business’s 50 day moving average is $80.64 and its two-hundred day moving average is $81.95. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $91.25. The firm has a market cap of $42.09 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 2.81 and a beta of 0.59.

Public Service Enterprise Group Company 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.