Ferguson Wellman Capital Management Inc. Buys New Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Ferguson Wellman Capital Management Inc. purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the third quarter, HoldingsChannel.com reports. The fund purchased 2,607 shares of the utilities provider’s stock, valued at approximately $233,000.

A number of other institutional investors also recently bought and sold shares of the business. Smallwood Wealth Investment Management LLC increased its holdings in shares of Public Service Enterprise Group by 1.3% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock valued at $827,000 after purchasing an additional 115 shares in the last quarter. Brighton Jones LLC grew its position in 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 worth $548,000 after buying an additional 131 shares during the period. Bryn Mawr Capital Management LLC increased its holdings in Public Service Enterprise Group by 0.5% in the second quarter. Bryn Mawr Capital Management LLC now owns 25,739 shares of the utilities provider’s stock valued at $1,905,000 after buying an additional 135 shares in the last quarter. Crestwood Advisors Group LLC lifted its position in shares of Public Service Enterprise Group by 4.1% during the 2nd quarter. Crestwood Advisors Group LLC now owns 3,853 shares of the utilities provider’s stock valued at $284,000 after acquiring an additional 153 shares during the period. Finally, Leisure Capital Management boosted its stake in shares of Public Service Enterprise Group by 1.1% during the 3rd quarter. Leisure Capital Management now owns 14,875 shares of the utilities provider’s stock worth $1,327,000 after acquiring an additional 157 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $89.76 on Monday. The company has a market cap of $44.71 billion, a P/E ratio of 24.86, a P/E/G ratio of 2.69 and a beta of 0.61. The firm’s 50 day moving average is $84.72 and its two-hundred day moving average is $77.10. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two 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 released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the company earned $0.70 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Insider Transactions at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 19,127 shares of the business’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 completion of the sale, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on 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 owns 147,514 shares of the company’s stock, valued at approximately $13,305,762.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,010 shares of company stock worth $3,397,855 in the last three months. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on PEG shares. 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. Royal Bank of Canada boosted their price objective on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Barclays raised their target price on shares of Public Service Enterprise Group from $80.00 to $98.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 target price for the company. Finally, BMO Capital Markets increased their price target 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. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $86.92.

Public Service Enterprise Group 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.