GW Henssler & Associates Ltd. Has $21.09 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

GW Henssler & Associates Ltd. cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 236,437 shares of the utilities provider’s stock after selling 1,115 shares during the quarter. GW Henssler & Associates Ltd.’s holdings in Public Service Enterprise Group were worth $21,093,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Raymond James & Associates increased its position in Public Service Enterprise Group by 30.1% in the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock valued at $255,954,000 after acquiring an additional 663,012 shares in the last quarter. Hamlin Capital Management LLC grew its stake in shares of Public Service Enterprise Group by 7.2% during the third quarter. Hamlin Capital Management LLC now owns 2,427,336 shares of the utilities provider’s stock valued at $216,543,000 after purchasing an additional 162,731 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Public Service Enterprise Group by 43.2% in the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after purchasing an additional 732,443 shares in the last quarter. abrdn plc raised its position in Public Service Enterprise Group by 10.2% in the 3rd quarter. abrdn plc now owns 1,792,186 shares of the utilities provider’s stock worth $159,074,000 after purchasing an additional 165,995 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Public Service Enterprise Group by 10.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,734,257 shares of the utilities provider’s stock worth $127,809,000 after buying an additional 163,333 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Tamara Louise Linde sold 9,563 shares of the 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 transaction, the executive vice president now owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,010 shares of company stock valued at $3,397,855 over the last quarter. Corporate insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Trading Down 1.7 %

PEG stock traded down $1.56 during midday trading on Tuesday, hitting $88.86. 703,620 shares of the company’s stock were exchanged, compared to its average volume of 2,771,835. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $92.20. The stock’s fifty day moving average price is $85.88 and its 200-day moving average price is $78.09. The company has a market cap of $44.27 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 2.73 and a beta of 0.61. 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 (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the firm posted $0.70 earnings per share. Public Service Enterprise Group’s revenue for the quarter was up .1% compared to the same quarter last year. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PEG. BMO Capital Markets lifted their target price on 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. 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. Wells Fargo & Company boosted their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Scotiabank raised 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 note on Tuesday, August 20th. Finally, UBS Group boosted their price target on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. One investment 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. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $87.15.

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.