Grove Bank & Trust Has $134,000 Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Grove Bank & Trust cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 49.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,503 shares of the utilities provider’s stock after selling 1,493 shares during the quarter. Grove Bank & Trust’s holdings in Public Service Enterprise Group were worth $134,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Harrell Investment Partners LLC boosted its stake in Public Service Enterprise Group by 38.7% in the third quarter. Harrell Investment Partners LLC now owns 29,319 shares of the utilities provider’s stock valued at $2,616,000 after buying an additional 8,182 shares in the last quarter. Douglas Lane & Associates LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at about $207,000. McGlone Suttner Wealth Management Inc. raised its position in Public Service Enterprise Group by 34.5% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 5,010 shares of the utilities provider’s stock valued at $447,000 after purchasing an additional 1,285 shares during the last quarter. CHICAGO TRUST Co NA raised its position in Public Service Enterprise Group by 2.5% in the third quarter. CHICAGO TRUST Co NA now owns 37,557 shares of the utilities provider’s stock valued at $3,350,000 after purchasing an additional 929 shares during the last quarter. Finally, Retirement Planning Group LLC bought a new position in Public Service Enterprise Group in the third quarter valued at about $333,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on PEG shares. Scotiabank increased their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Bank of America increased their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Barclays increased their target price on Public Service Enterprise Group from $80.00 to $98.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Royal Bank of Canada raised their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.62.

Insider Activity at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the transaction, the executive vice president now owns 57,961 shares of the company’s stock, valued at $4,610,217.94. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the transaction, the executive vice president now owns 57,961 shares of the company’s stock, valued at $4,610,217.94. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the transaction, the chief executive officer now directly owns 147,514 shares in the company, valued at approximately $13,305,762.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,010 shares of company stock valued at $3,397,855 over the last 90 days. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Up 1.7 %

Shares of Public Service Enterprise Group stock opened at $89.16 on Tuesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $92.20. The stock has a 50 day moving average price of $83.90 and a two-hundred day moving average price of $76.45. The stock has a market capitalization of $44.41 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.72 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The company’s revenue was up .1% on a year-over-year basis. During the same period last year, the business posted $0.70 EPS. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.