Umpqua Bank Increases Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Umpqua Bank raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,331 shares of the utilities provider’s stock after acquiring an additional 323 shares during the quarter. Umpqua Bank’s holdings in Public Service Enterprise Group were worth $654,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Family Firm Inc. bought a new position in shares of Public Service Enterprise Group in the second quarter worth $33,000. OFI Invest Asset Management bought a new position in Public Service Enterprise Group during the second quarter valued at approximately $35,000. Northwest Investment Counselors LLC bought a new stake in Public Service Enterprise Group in the third quarter worth $48,000. Country Trust Bank bought a new position in Public Service Enterprise Group during the 2nd quarter worth approximately $52,000. Finally, Friedenthal Financial bought a new stake in Public Service Enterprise Group during the 2nd quarter valued at $52,000. Institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Royal Bank of Canada upped their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Jefferies Financial Group assumed 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 on the stock. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. BMO Capital Markets increased their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Finally, UBS Group raised their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.69.

Insider Buying and Selling at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the 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 approximately $5,419,476.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. The trade was 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 three months. Insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Trading Down 0.2 %

Shares of NYSE PEG traded down $0.18 during midday trading on Wednesday, reaching $83.60. 60,687 shares of the stock were exchanged, compared to its average volume of 2,779,697. The stock has a market capitalization of $41.65 billion, a P/E ratio of 25.39, a PEG ratio of 2.87 and a beta of 0.61. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $92.20. The company has a 50 day simple moving average of $86.56 and a 200 day simple moving average of $78.99. 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 (NYSE:PEG) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. Public Service Enterprise Group’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $0.85 earnings per share. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

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.