Net Worth Advisory Group Makes New $276,000 Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Net Worth Advisory Group purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,096 shares of the utilities provider’s stock, valued at approximately $276,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Family Firm Inc. bought a new position in Public Service Enterprise Group during the 2nd quarter worth about $33,000. OFI Invest Asset Management bought a new position in shares of Public Service Enterprise Group during the second quarter valued at approximately $35,000. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group during the first quarter valued at approximately $36,000. Salomon & Ludwin LLC raised its stake in Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after buying an additional 560 shares in the last quarter. Finally, PFS Partners LLC boosted its position in Public Service Enterprise Group by 90.9% during the 1st quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 300 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Trading Up 0.1 %

Public Service Enterprise Group stock opened at $89.76 on Monday. The stock has a 50-day moving average price of $84.72 and a 200 day moving average price of $77.10. The company has a market capitalization of $44.71 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 2.69 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 company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Insider Buying and Selling at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total transaction of $124,295.60. Following the sale, the chief executive officer now owns 147,514 shares in the company, valued at approximately $13,305,762.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,010 shares of company stock worth $3,397,855. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the subject of several recent research reports. Bank of America boosted their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Royal Bank of Canada increased their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Evercore ISI lifted their price objective on shares of 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. BMO Capital Markets increased their target price on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. Finally, UBS Group lifted their price target on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $86.92.

About Public Service Enterprise Group

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.