Metis Global Partners LLC Has $4.69 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Metis Global Partners LLC boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 52,550 shares of the utilities provider’s stock after acquiring an additional 3,251 shares during the quarter. Metis Global Partners LLC’s holdings in Public Service Enterprise Group were worth $4,688,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Family Firm Inc. bought a new stake in Public Service Enterprise Group during the second quarter valued at about $33,000. OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter worth about $35,000. Ashton Thomas Securities LLC bought a new stake in Public Service Enterprise Group during the 3rd quarter valued at approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group in the 3rd quarter valued at approximately $48,000. Finally, Country Trust Bank bought a new position in Public Service Enterprise Group in the 2nd quarter worth approximately $52,000. Institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total transaction of $124,295.60. Following the transaction, the chief executive officer now owns 147,514 shares in the company, valued at $13,305,762.80. This represents a 0.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the transaction, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This represents a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,783 shares of company stock valued at $2,381,626. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $87.00 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The business’s fifty day moving average price is $87.20 and its two-hundred day moving average price is $79.69. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $92.20. The stock has a market capitalization of $43.35 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 3.20 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PEG has been the topic of several research analyst reports. Morgan Stanley raised their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They issued a “hold” rating and a $85.00 price target on the stock. BMO Capital Markets increased their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Barclays decreased their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

Public Service Enterprise Group Company 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.