Some Traders Are Very Bullish on Public Service Enterprise Group Incorporated (PEG) After Forming Double Top

September 14, 2018 - By Jack Shaw

Public Service Enterprise Group Incorporated (NYSE:PEG) Logo

Investors sentiment increased to 0.95 in 2018 Q2. Its up 0.14, from 0.81 in 2018Q1. It is positive, as 26 investors sold Public Service Enterprise Group Incorporated shares while 235 reduced holdings. 75 funds opened positions while 173 raised stakes. 335.83 million shares or 0.75% more from 333.32 million shares in 2018Q1 were reported.
Balyasny Asset Mngmt Lc has 0.1% invested in Public Service Enterprise Group Incorporated (NYSE:PEG) for 398,523 shares. Old Republic Interest invested in 664,500 shares or 1.11% of the stock. Pictet Asset Mngmt owns 3.48M shares or 0.45% of their US portfolio. Comml Bank Of Ny Mellon Corp holds 0.08% or 5.56M shares in its portfolio. Oakbrook Invests Ltd Llc invested in 0.07% or 21,086 shares. Tiedemann Limited has 0.83% invested in Public Service Enterprise Group Incorporated (NYSE:PEG). Private Ocean Limited has invested 0.02% in Public Service Enterprise Group Incorporated (NYSE:PEG). Profund Advisors Limited Liability Com holds 0.07% of its portfolio in Public Service Enterprise Group Incorporated (NYSE:PEG) for 30,367 shares. Mutual Of America Cap Ltd Limited Liability Company stated it has 0.08% in Public Service Enterprise Group Incorporated (NYSE:PEG). Tower Cap Ltd Liability (Trc) holds 0.06% in Public Service Enterprise Group Incorporated (NYSE:PEG) or 18,778 shares. Prelude Capital Mngmt Ltd owns 0.04% invested in Public Service Enterprise Group Incorporated (NYSE:PEG) for 11,828 shares. Ireland-based Davy Asset Mngmt has invested 2.65% in Public Service Enterprise Group Incorporated (NYSE:PEG). Millennium Ltd owns 2.14M shares for 0.15% of their portfolio. Csat Advisory Ltd Partnership stated it has 0% in Public Service Enterprise Group Incorporated (NYSE:PEG). Ibm Retirement Fund holds 0.11% or 9,758 shares.

Since April 2, 2018, it had 0 buys, and 6 insider sales for $7.79 million activity. On Monday, April 16 the insider Linde Tamara Louise sold $825,981.

The chart of Public Service Enterprise Group Incorporated (PEG) shows a double top with $57.37 target or 8.00 % above today’s $53.12 share price. The 8 months chart pattern indicates low risk for the $26.85 billion company. It was reported on Sep, 14 by Finviz.com. If the $57.37 price target is reached, the company will be worth $2.15 billion more. Double tops are rare but powerful chart patterns.

The stock decreased 1.09% or $0.58 during the last trading session, reaching $53.12. About 967,467 shares traded. Public Service Enterprise Group Incorporated (NYSE:PEG) has risen 16.32% since September 14, 2017 and is uptrending. It has outperformed by 0.70% the S&P500.

Analysts await Public Service Enterprise Group Incorporated (NYSE:PEG) to report earnings on October, 30. They expect $0.90 earnings per share, up 9.76 % or $0.08 from last year’s $0.82 per share. PEG’s profit will be $454.83 million for 14.76 P/E if the $0.90 EPS becomes a reality. After $0.64 actual earnings per share reported by Public Service Enterprise Group Incorporated for the previous quarter, Wall Street now forecasts 40.63 % EPS growth.

Public Service Enterprise Group Incorporated (NYSE:PEG) Ratings Coverage

Among 6 analysts covering Public Service Enterprise (NYSE:PEG), 3 have Buy rating, 0 Sell and 3 Hold. Therefore 50% are positive. Public Service Enterprise had 10 analyst reports since April 10, 2018 according to SRatingsIntel. The stock has “Overweight” rating by Morgan Stanley on Monday, July 16. JP Morgan maintained Public Service Enterprise Group Incorporated (NYSE:PEG) rating on Tuesday, April 10. JP Morgan has “Overweight” rating and $52 target. The firm earned “Overweight” rating on Friday, May 25 by Morgan Stanley. The rating was upgraded by Bank of America on Monday, April 16 to “Buy”. The rating was downgraded by Deutsche Bank to “Hold” on Tuesday, July 3. Goldman Sachs downgraded it to “Neutral” rating and $53 target in Friday, July 20 report. The stock of Public Service Enterprise Group Incorporated (NYSE:PEG) earned “Overweight” rating by JP Morgan on Tuesday, May 29. The firm earned “Neutral” rating on Monday, July 9 by Citigroup. The stock of Public Service Enterprise Group Incorporated (NYSE:PEG) has “Overweight” rating given on Wednesday, June 13 by Morgan Stanley. The firm earned “Neutral” rating on Friday, May 4 by Citigroup.

Another recent and important Public Service Enterprise Group Incorporated (NYSE:PEG) news was published by Finance.Yahoo.com which published an article titled: “Public Service Enterprise Group Incorporated (NYSE:PEG): Dividend Is Coming In 2 Days, Should You Buy?” on September 03, 2018.

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy firm primarily in the Northeastern and Mid- Atlantic United States. The company has market cap of $26.85 billion. It operates through two divisions, PSE&G and Power. It has a 12.38 P/E ratio. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

Public Service Enterprise Group Incorporated (NYSE:PEG) Institutional Positions Chart

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