Austin Private Wealth LLC Invests $203,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Austin Private Wealth LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,276 shares of the utilities provider’s stock, valued at approximately $203,000.

Other large investors have also modified their holdings of the company. Family Firm Inc. purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $33,000. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $48,000. Country Trust Bank purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $52,000. Finally, Friedenthal Financial purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $52,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $83.78 on Wednesday. The business’s fifty day moving average price is $86.56 and its two-hundred day moving average price is $78.99. The stock has a market cap of $41.74 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 2.87 and a beta of 0.61. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PEG. Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 target price for the company. Morgan Stanley raised their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Wells Fargo & Company raised their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada raised their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Scotiabank raised their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $86.69.

Insider Transactions at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total value of $124,295.60. Following the sale, the chief executive officer now owns 147,514 shares in the company, valued at $13,305,762.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,010 shares of company stock worth $3,397,855 over the last quarter. 0.18% of the stock is currently 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.