First Trust Direct Indexing L.P. Has $2.10 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

First Trust Direct Indexing L.P. grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 18.9% during the third quarter, Holdings Channel.com reports. The firm owned 23,565 shares of the utilities provider’s stock after acquiring an additional 3,752 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Public Service Enterprise Group were worth $2,102,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEG. Family Firm Inc. bought a new position in shares of Public Service Enterprise Group in the second quarter valued at $33,000. OFI Invest Asset Management bought a new position in shares of Public Service Enterprise Group in the second quarter valued at $35,000. Northwest Investment Counselors LLC bought a new position in shares of Public Service Enterprise Group in the third quarter valued at $48,000. Salomon & Ludwin LLC grew its stake in shares of Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after buying an additional 560 shares in the last quarter. Finally, Country Trust Bank bought a new position in shares of Public Service Enterprise Group in the second quarter valued at $52,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the transaction, the executive vice president now owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the transaction, the executive vice president now owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,010 shares of company stock valued at $3,397,855. 0.18% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Stock Up 0.3 %

Shares of NYSE PEG opened at $88.42 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The company has a market cap of $44.05 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 2.73 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $92.20. The stock has a 50-day moving average price of $86.19 and a two-hundred day moving average price of $78.32.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 EPS. As a group, analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PEG shares. Jefferies Financial Group started coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 target price for the company. Royal Bank of Canada lifted their price objective on shares of 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. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Scotiabank boosted their target price on shares of 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. Finally, Wells Fargo & Company boosted their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.46.

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.