Condor Capital Management Invests $204,000 in Public Service Enterprise Group Inc. (NYSE:PEG)

Condor Capital Management purchased a new position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,282 shares of the utilities provider’s stock, valued at approximately $204,000.

Several other hedge funds also recently modified their holdings of the company. Bank of Nova Scotia lifted its holdings in Public Service Enterprise Group by 0.4% in the second quarter. Bank of Nova Scotia now owns 340,044 shares of the utilities provider’s stock worth $20,001,000 after acquiring an additional 1,505 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Public Service Enterprise Group by 3.6% in the second quarter. Daiwa Securities Group Inc. now owns 20,177 shares of the utilities provider’s stock worth $1,187,000 after acquiring an additional 700 shares during the last quarter. Prime Capital Investment Advisors LLC bought a new position in Public Service Enterprise Group in the second quarter worth about $90,000. Elkfork Partners LLC lifted its holdings in Public Service Enterprise Group by 44.4% in the second quarter. Elkfork Partners LLC now owns 44,200 shares of the utilities provider’s stock worth $2,600,000 after acquiring an additional 13,600 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Public Service Enterprise Group by 0.8% in the second quarter. First Trust Advisors LP now owns 1,177,977 shares of the utilities provider’s stock worth $69,289,000 after acquiring an additional 9,824 shares during the last quarter. 69.26% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Derek M. Dirisio sold 2,176 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $60.08, for a total transaction of $130,734.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Ralph A. Larossa sold 1,650 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $60.82, for a total transaction of $100,353.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,576 shares of company stock worth $525,939. Corporate insiders own 0.51% of the company’s stock.

PEG opened at $61.07 on Thursday. The business’s 50 day moving average is $62.11 and its 200-day moving average is $60.25. The stock has a market cap of $31.07 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 5.12 and a beta of 0.28. The company has a current ratio of 0.75, a quick ratio of 0.52 and a debt-to-equity ratio of 0.99. Public Service Enterprise Group Inc. has a twelve month low of $49.22 and a twelve month high of $63.88.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Public Service Enterprise Group had a return on equity of 11.01% and a net margin of 14.45%. During the same quarter in the previous year, the company posted $0.95 earnings per share. As a group, analysts forecast that Public Service Enterprise Group Inc. will post 3.25 EPS for the current year.

A number of equities analysts have issued reports on PEG shares. Mizuho raised their target price on shares of Public Service Enterprise Group from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. ValuEngine cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Barclays started coverage on shares of Public Service Enterprise Group in a report on Tuesday, August 13th. They issued an “overweight” rating and a $63.00 target price on the stock. Bank of America cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a report on Friday, July 19th. Finally, Royal Bank of Canada lifted their price target on Public Service Enterprise Group from $60.00 to $62.00 and gave the company a “sector perform” rating in a report on Thursday, October 3rd. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Public Service Enterprise Group currently has an average rating of “Hold” and an average target price of $63.16.

About Public Service Enterprise Group

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; 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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