Edge Financial Advisors LLC Acquires Shares of 3,128 Public Service Enterprise Group Incorporated (NYSE:PEG)

Edge Financial Advisors LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 3,128 shares of the utilities provider’s stock, valued at approximately $279,000.

Other institutional investors have also modified their holdings of the company. Family Firm Inc. bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at about $33,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $35,000. Salomon & Ludwin LLC lifted its holdings in shares of Public Service Enterprise Group by 1,866.7% in the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 560 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth about $48,000. Finally, Country Trust Bank acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $52,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 9,564 shares of the business’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 sale, the executive vice president now directly owns 48,397 shares in the company, valued at approximately $4,385,252.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the sale, the chief executive officer now directly owns 147,514 shares in the company, valued at approximately $13,305,762.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through 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 shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the sale, the executive vice president now owns 48,397 shares in the company, valued at $4,385,252.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,010 shares of company stock worth $3,397,855. 0.18% of the stock is owned by insiders.

Public Service Enterprise Group Stock Up 0.2 %

Shares of Public Service Enterprise Group stock traded up $0.18 during midday trading on Wednesday, hitting $88.34. The company’s stock had a trading volume of 112,102 shares, compared to its average volume of 2,769,960. 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 Incorporated has a 1-year low of $56.85 and a 1-year high of $92.20. The stock has a 50-day simple moving average of $86.04 and a 200-day simple moving average of $78.25. The firm has a market capitalization of $44.01 billion, a P/E ratio of 26.82, a PEG ratio of 2.73 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $2.42 billion during 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%. Public Service Enterprise Group’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Wall Street Analyst Weigh In

PEG has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Scotiabank lifted their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 price target for the company. Finally, 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 note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $87.46.

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.