Farther Finance Advisors LLC Acquires 1,184 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Farther Finance Advisors LLC raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 47.4% in the third quarter, Holdings Channel.com reports. The firm owned 3,681 shares of the utilities provider’s stock after purchasing an additional 1,184 shares during the period. Farther Finance Advisors LLC’s holdings in Public Service Enterprise Group were worth $328,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Old Port Advisors raised its position in shares of Public Service Enterprise Group by 0.5% in the 3rd quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock worth $2,099,000 after purchasing an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC raised its holdings in Public Service Enterprise Group by 1.3% in the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock worth $827,000 after buying an additional 115 shares during the last quarter. Cigna Investments Inc. New lifted its stake in shares of Public Service Enterprise Group by 2.5% in the third quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock worth $451,000 after buying an additional 124 shares in the last quarter. Great Lakes Retirement Inc. grew its holdings in shares of Public Service Enterprise Group by 0.4% during the third quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock valued at $2,619,000 after buying an additional 127 shares during the last quarter. Finally, Brighton Jones LLC increased its position in shares of Public Service Enterprise Group by 1.8% during the second quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock valued at $548,000 after acquiring an additional 131 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Up 1.9 %

Shares of PEG stock opened at $85.82 on Friday. The company has a 50 day simple moving average of $86.80 and a two-hundred day simple moving average of $79.19. The stock has a market cap of $42.76 billion, a P/E ratio of 21.09, a P/E/G ratio of 3.06 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $92.20. The company has a current ratio of 0.68, a quick ratio of 0.46 and a debt-to-equity ratio of 1.18.

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

Insider Activity

In related news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the sale, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at $13,305,762.80. 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 through the SEC website. Also, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,010 shares of company stock valued at $3,397,855 in the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PEG shares. Jefferies Financial Group started coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They issued a “hold” rating and a $85.00 price objective on the stock. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Bank of America boosted their target price 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. BMO Capital Markets raised their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average target price of $86.69.

Public Service Enterprise Group Company 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.