Today: Today, Kanawha Capital Management LLC Increases Stake in Public Service Enterprise Group Inc. (PEG)

Today, Kanawha Capital Management LLC Increases Stake in Public Service Enterprise Group Inc. (PEG)

Kanawha Capital Management LLC increased its stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,541 shares of the company’s stock after buying an additional 400 shares during the period. Kanawha Capital Management LLC’s holdings in Public Service Enterprise Group were worth $1,144,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Huntington National Bank increased its stake in shares of Public Service Enterprise Group by 10.3% in the second quarter. Huntington National Bank now owns 2,537 shares of the company’s stock valued at $119,000 after buying an additional 237 shares during the period. Americafirst Capital Management LLC bought a new stake in shares of Public Service Enterprise Group during the second quarter valued at about $135,000. NEXT Financial Group Inc increased its stake in shares of Public Service Enterprise Group by 2.9% in the second quarter. NEXT Financial Group Inc now owns 3,676 shares of the company’s stock valued at $171,000 after buying an additional 105 shares during the period. Abner Herrman & Brock LLC bought a new stake in shares of Public Service Enterprise Group during the second quarter valued at about $211,000. Finally, QUANTRES ASSET MANAGEMENT Ltd bought a new stake in shares of Public Service Enterprise Group during the second quarter valued at about $219,000. Institutional investors and hedge funds own 66.33% of the company’s stock.

Shares of Public Service Enterprise Group Inc. (NYSE:PEG) traded up 0.48% during mid-day trading on Tuesday, reaching $41.77. The company had a trading volume of 1,424,910 shares. The stock has a market capitalization of $21.13 billion, a P/E ratio of 15.08 and a beta of 0.25. The firm has a 50 day moving average of $42.05 and a 200-day moving average of $44.42. Public Service Enterprise Group Inc. has a one year low of $36.80 and a one year high of $47.41.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Friday, July 29th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by $0.01. Public Service Enterprise Group had a return on equity of 10.71% and a net margin of 14.82%. During the same period in the previous year, the company earned $0.57 earnings per share. Analysts forecast that Public Service Enterprise Group Inc. will post $2.87 EPS for the current fiscal year.

Several brokerages recently issued reports on PEG. Zacks Investment Research downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Barclays PLC upped their price objective on Public Service Enterprise Group from $47.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday, September 22nd. Argus reduced their price objective on Public Service Enterprise Group from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, September 20th. Morgan Stanley upgraded Public Service Enterprise Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $43.00 to $47.00 in a research note on Wednesday, July 13th. Finally, Goldman Sachs Group Inc. upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $46.00 to $47.00 in a research note on Monday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $46.78.

In other Public Service Enterprise Group news, COO William Levis sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $43.73, for a total transaction of $327,975.00. Following the sale, the chief operating officer now directly owns 156,671 shares in the company, valued at $6,851,222.83. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Ralph Izzo sold 25,993 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $41.36, for a total value of $1,075,070.48. Following the sale, the chairman now owns 727,346 shares in the company, valued at $30,083,030.56. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is an energy holding company with operations located in the Northeastern and Mid- Atlantic United States. The Company is engaged in the transmission and distribution of electricity and natural gas. The Company’s business consists of two segments, including Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (Power).

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