Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by My Legacy Advisors LLC

My Legacy Advisors LLC lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 8,009 shares of the utilities provider’s stock after selling 1,131 shares during the quarter. My Legacy Advisors LLC’s holdings in Public Service Enterprise Group were worth $714,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in PEG. Family Firm Inc. acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at $33,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group in the 1st quarter valued at $36,000. Salomon & Ludwin LLC grew its stake in 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 valued at $39,000 after acquiring an additional 560 shares during the period. Finally, PFS Partners LLC grew its stake in Public Service Enterprise Group by 90.9% in the 1st quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.2 %

PEG traded down $0.15 on Tuesday, hitting $90.02. The company had a trading volume of 632,757 shares, compared to its average volume of 2,794,148. The firm has a market cap of $44.84 billion, a P/E ratio of 24.90, a PEG ratio of 2.69 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $92.20. The company’s fifty 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 (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company 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 firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 earnings per share. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PEG shares. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Bank of America lifted their target price on shares of 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. Morgan Stanley lifted their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Jefferies Financial Group started coverage on shares of 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. Finally, Scotiabank lifted their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.15.

Insider Buying and Selling

In related news, 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 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at $13,305,762.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at $4,385,252.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,010 shares of company stock worth $3,397,855. Company insiders own 0.57% of the company’s stock.

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.