KCM Investment Advisors LLC Sells 2,090 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

KCM Investment Advisors LLC trimmed its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 65,237 shares of the utilities provider’s stock after selling 2,090 shares during the quarter. KCM Investment Advisors LLC’s holdings in Public Service Enterprise Group were worth $5,820,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of Public Service Enterprise Group during the third quarter valued at $35,000. Family Firm Inc. bought a new position in shares of Public Service Enterprise Group during the second quarter valued at $33,000. OFI Invest Asset Management bought a new position in shares of Public Service Enterprise Group during the second quarter valued at $35,000. Northwest Investment Counselors LLC bought a new position in shares of Public Service Enterprise Group during the third quarter valued at $48,000. Finally, Country Trust Bank bought a new position in shares of Public Service Enterprise Group during the second quarter valued at $52,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Performance

Shares of PEG stock traded up $0.59 during trading hours on Friday, reaching $87.59. 272,002 shares of the company traded hands, compared to its average volume of 2,769,778. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $92.20. 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 company has a market cap of $43.64 billion, a P/E ratio of 21.55, a P/E/G ratio of 3.20 and a beta of 0.61. The firm has a 50-day moving average price of $87.32 and a 200 day moving average price of $79.74.

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

Insider Activity at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the sale, the executive vice president now owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. This trade represents a 14.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. The trade was a 0.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,783 shares of company stock valued at $2,381,626. 0.57% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PEG shares. Scotiabank upped their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Morgan Stanley upped their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Evercore ISI raised their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company raised their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.69.

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.