Silver Oak Securities Incorporated Buys New Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Silver Oak Securities Incorporated 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 6,446 shares of the utilities provider’s stock, valued at approximately $569,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEG. Raymond James & Associates raised its holdings in Public Service Enterprise Group by 315.2% in the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock worth $162,590,000 after purchasing an additional 1,674,827 shares during the period. Sound Shore Management Inc. CT purchased a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $71,298,000. Hsbc Holdings PLC increased its position in shares of Public Service Enterprise Group by 43.2% in the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after buying an additional 732,443 shares in the last quarter. Reaves W H & Co. Inc. raised its stake in shares of Public Service Enterprise Group by 73.9% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock worth $104,978,000 after buying an additional 667,773 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Public Service Enterprise Group by 381.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock valued at $59,023,000 after buying an additional 634,587 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on PEG shares. Evercore ISI upped 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. Bank of America raised their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Wells Fargo & Company boosted their price objective on 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. 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 target price on the stock. Finally, Scotiabank boosted their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.15.

Public Service Enterprise Group Trading Down 1.0 %

Shares of PEG opened at $89.63 on Friday. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $92.20. The firm has a market capitalization of $44.65 billion, a P/E ratio of 27.16, a P/E/G ratio of 2.71 and a beta of 0.61. The firm has a 50-day moving average price of $85.69 and a 200 day moving average price of $77.77. 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 (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 the consensus estimate of $0.64 by ($0.01). The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company earned $0.70 EPS. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 9,564 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total value of $866,594.04. Following the transaction, the executive vice president now owns 48,397 shares of the company’s stock, valued at $4,385,252.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Public Service Enterprise Group news, 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 transaction of $111,190.82. Following the completion of the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tamara Louise Linde sold 9,564 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the transaction, the executive vice president now owns 48,397 shares in the company, valued at approximately $4,385,252.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,010 shares of company stock valued at $3,397,855 over the last quarter. 0.57% of the stock is owned by insiders.

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.