KBC Group NV Has $9.17 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

KBC Group NV increased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 162.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,735 shares of the utilities provider’s stock after purchasing an additional 63,565 shares during the quarter. KBC Group NV’s holdings in Public Service Enterprise Group were worth $9,165,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Heritage Wealth Management Inc. acquired a new position in shares of Public Service Enterprise Group during the second quarter worth $422,000. QRG Capital Management Inc. raised its position in Public Service Enterprise Group by 28.0% in the second quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock valued at $5,227,000 after purchasing an additional 15,505 shares during the last quarter. CWM LLC boosted its stake in shares of Public Service Enterprise Group by 72.3% during the second quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock valued at $1,532,000 after purchasing an additional 8,723 shares in the last quarter. Czech National Bank grew its holdings in shares of Public Service Enterprise Group by 8.3% during the second quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock worth $6,995,000 after purchasing an additional 7,235 shares during the last quarter. Finally, Colonial River Investments LLC acquired a new position in shares of Public Service Enterprise Group in the third quarter valued at approximately $634,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $88.99 on Friday. The firm has a market cap of $44.34 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 3.20 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $92.20. The business’s 50 day moving average price is $87.50 and its two-hundred day moving average price is $79.89. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

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

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tamara Louise Linde sold 9,563 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the sale, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at $4,610,217.94. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,783 shares of company stock valued at $2,381,626 in the last 90 days. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PEG. Morgan Stanley lifted their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Barclays decreased their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 price target for the company. Four investment 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. Based on data from MarketBeat, Public Service Enterprise Group presently has an average 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.