HighTower Advisors LLC Buys 6,083 Shares of Public Service Enterprise Group Incorporated $PEG

HighTower Advisors LLC increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 191,964 shares of the utilities provider’s stock after acquiring an additional 6,083 shares during the period. HighTower Advisors LLC’s holdings in Public Service Enterprise Group were worth $16,022,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC purchased a new position in Public Service Enterprise Group in the 2nd quarter worth approximately $25,000. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group in the second quarter worth approximately $25,000. Cedar Mountain Advisors LLC purchased a new position in shares of Public Service Enterprise Group in the third quarter worth $27,000. GoalVest Advisory LLC increased its stake in shares of Public Service Enterprise Group by 166.7% in the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after buying an additional 225 shares during the period. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in Public Service Enterprise Group during the 3rd quarter valued at $38,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Down 0.2%

PEG stock opened at $85.52 on Friday. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $91.25. The company has a market capitalization of $42.69 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 2.77 and a beta of 0.59. The business’s 50 day moving average price is $80.91 and its two-hundred day moving average price is $81.94. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PEG. BMO Capital Markets cut their price target on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a report on Tuesday, November 4th. TD Cowen increased their target price on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $85.00 target price (down from $88.00) on shares of Public Service Enterprise Group in a research note on Thursday, January 22nd. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price target for the company in a research report on Wednesday, January 7th. Finally, Wells Fargo & Company upgraded Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $88.00 to $92.00 in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $90.96.

Public Service Enterprise Group Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.