Capital Investment Advisors LLC Invests $237,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Capital Investment Advisors LLC acquired 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 Form 13F filing with the SEC. The firm acquired 2,656 shares of the utilities provider’s stock, valued at approximately $237,000.

Several other hedge funds also recently modified their holdings of PEG. Blue Trust Inc. boosted its stake in shares of Public Service Enterprise Group by 29.6% during the third quarter. Blue Trust Inc. now owns 13,096 shares of the utilities provider’s stock valued at $1,168,000 after purchasing an additional 2,991 shares in the last quarter. Net Worth Advisory Group acquired a new stake in Public Service Enterprise Group during the 3rd quarter worth approximately $276,000. Aspiriant LLC bought a new stake in Public Service Enterprise Group during the 3rd quarter worth approximately $227,000. V Square Quantitative Management LLC increased its position in Public Service Enterprise Group by 6.9% in the 3rd quarter. V Square Quantitative Management LLC now owns 6,753 shares of the utilities provider’s stock valued at $602,000 after acquiring an additional 437 shares during the period. Finally, LexAurum Advisors LLC bought a new position in shares of Public Service Enterprise Group during the third quarter valued at $242,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PEG. Wells Fargo & Company boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. BMO Capital Markets increased their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday. Bank of America lifted their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. UBS Group upped their target price on Public Service Enterprise Group from $87.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Finally, Evercore ISI raised their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.15.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the company’s 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 transaction, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 67,524 shares in the company, valued at $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 is available at this link. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at $12,014,095.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,010 shares of company stock valued at $3,397,855. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $90.17 on Tuesday. The firm has a market capitalization of $44.91 billion, a P/E ratio of 24.98, a P/E/G ratio of 2.69 and a beta of 0.61. The firm’s 50-day moving average price is $84.91 and its 200-day moving average price is $77.26. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share 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 period last year, the company posted $0.70 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

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.