Calamos Advisors LLC Purchases 5,745 Shares of Public Service Enterprise Group Inc. (PEG)

Calamos Advisors LLC raised its position in Public Service Enterprise Group Inc. (NYSE:PEG) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,773 shares of the utilities provider’s stock after acquiring an additional 5,745 shares during the quarter. Calamos Advisors LLC’s holdings in Public Service Enterprise Group were worth $4,739,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PEG. American Research & Management Co. acquired a new stake in Public Service Enterprise Group in the second quarter valued at approximately $108,000. NuWave Investment Management LLC acquired a new stake in Public Service Enterprise Group in the second quarter valued at approximately $118,000. Squar Milner Financial Services LLC acquired a new stake in Public Service Enterprise Group in the second quarter valued at approximately $149,000. Cordasco Financial Network grew its position in Public Service Enterprise Group by 63.1% in the second quarter. Cordasco Financial Network now owns 2,842 shares of the utilities provider’s stock valued at $154,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Reilly Financial Advisors LLC grew its position in Public Service Enterprise Group by 49.2% in the third quarter. Reilly Financial Advisors LLC now owns 3,031 shares of the utilities provider’s stock valued at $160,000 after acquiring an additional 1,000 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

In other news, Chairman Ralph Izzo sold 49,829 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $52.60, for a total transaction of $2,621,005.40. Following the completion of the sale, the chairman now owns 578,910 shares of the company’s stock, valued at $30,450,666. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 123,069 shares of company stock valued at $6,430,191 in the last three months. Corporate insiders own 0.58% of the company’s stock.



Several brokerages have issued reports on PEG. Mizuho reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Public Service Enterprise Group in a research report on Monday, August 6th. ValuEngine downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Citigroup raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Tuesday, October 9th. Morgan Stanley set a $58.00 price target on shares of Public Service Enterprise Group and gave the stock a “buy” rating in a research report on Thursday, September 27th. Finally, Argus raised their price target on shares of Public Service Enterprise Group from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 17th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Public Service Enterprise Group presently has an average rating of “Buy” and an average price target of $56.42.

PEG stock opened at $54.38 on Friday. Public Service Enterprise Group Inc. has a twelve month low of $46.19 and a twelve month high of $56.68. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.52. The company has a market cap of $27.63 billion, a PE ratio of 18.56, a P/E/G ratio of 2.68 and a beta of 0.32.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. Public Service Enterprise Group had a net margin of 23.69% and a return on equity of 11.03%. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter last year, the company earned $0.62 earnings per share. On average, analysts anticipate that Public Service Enterprise Group Inc. will post 3.11 EPS for the current year.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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