Public Service Enterprise Group Incorporated $PEG Position Reduced by Citigroup Inc.

Citigroup Inc. lessened its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 373,975 shares of the utilities provider’s stock after selling 13,426 shares during the quarter. Citigroup Inc. owned approximately 0.07% of Public Service Enterprise Group worth $31,212,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEG. JARISLOWSKY FRASER Ltd increased its holdings in shares of Public Service Enterprise Group by 107.1% in the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 1,025,305 shares of the utilities provider’s stock worth $85,572,000 after buying an additional 530,248 shares during the last quarter. Railway Pension Investments Ltd increased its position in shares of Public Service Enterprise Group by 97.5% during the third quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock worth $158,390,000 after acquiring an additional 937,100 shares during the period. Assetmark Inc. grew its position in shares of Public Service Enterprise Group by 4.6% during the 3rd quarter. Assetmark Inc. now owns 893,950 shares of the utilities provider’s stock worth $74,609,000 after buying an additional 38,949 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Public Service Enterprise Group by 13.0% during the 3rd quarter. New York State Common Retirement Fund now owns 314,668 shares of the utilities provider’s stock worth $26,262,000 after acquiring an additional 36,100 shares in the last quarter. Finally, Rakuten Investment Management Inc. bought a new position in Public Service Enterprise Group in the third quarter worth approximately $1,852,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG opened at $86.19 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. The firm’s 50-day moving average price is $81.27 and its 200 day moving average price is $81.88. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $91.25. The firm has a market capitalization of $43.02 billion, a PE ratio of 20.72, a PEG ratio of 2.79 and a beta of 0.59.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price objective for the company in a research report on Wednesday, January 7th. TD Cowen raised their price target on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Jefferies Financial Group raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $89.00 to $90.00 in a research report on Thursday, November 6th. Barclays decreased their price target on shares of Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating for the company in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $85.00 price objective (down from $88.00) on shares of Public Service Enterprise Group in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.96.

About Public Service Enterprise Group

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.