Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Edge Wealth Management LLC

Edge Wealth Management LLC trimmed its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 116,848 shares of the utilities provider’s stock after selling 439 shares during the quarter. Public Service Enterprise Group comprises 2.1% of Edge Wealth Management LLC’s portfolio, making the stock its 21st largest position. Edge Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $10,424,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. GenWealth Group Inc. bought a new position in Public Service Enterprise Group in the 3rd quarter worth approximately $551,000. Creative Planning grew its holdings in Public Service Enterprise Group by 5.2% in the 3rd quarter. Creative Planning now owns 95,695 shares of the utilities provider’s stock worth $8,537,000 after buying an additional 4,710 shares in the last quarter. Harrell Investment Partners LLC grew its holdings in Public Service Enterprise Group by 38.7% in the 3rd quarter. Harrell Investment Partners LLC now owns 29,319 shares of the utilities provider’s stock worth $2,616,000 after buying an additional 8,182 shares in the last quarter. Douglas Lane & Associates LLC bought a new position in Public Service Enterprise Group in the 3rd quarter worth approximately $207,000. Finally, McGlone Suttner Wealth Management Inc. grew its holdings in Public Service Enterprise Group by 34.5% in the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 5,010 shares of the utilities provider’s stock worth $447,000 after buying an additional 1,285 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 9,564 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total value of $866,594.04. Following the sale, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s 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 transaction, the chief executive officer now 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Tamara Louise Linde sold 9,564 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the transaction, the executive vice president now owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This 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 valued at $3,397,855 over the last three months. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Down 1.1 %

Shares of NYSE:PEG traded down $0.99 during midday trading on Tuesday, hitting $88.17. 3,724,229 shares of the stock were exchanged, compared to its average volume of 2,825,072. 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 52-week low of $56.85 and a 52-week high of $92.20. The business’s fifty day simple moving average is $83.90 and its two-hundred day simple moving average is $76.45. The company has a market capitalization of $43.92 billion, a PE ratio of 24.68, a P/E/G ratio of 2.72 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last announced 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 firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 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 .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 earnings per share. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PEG has been the subject of a number of recent analyst reports. Bank of America increased their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Royal Bank of Canada increased their price target 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. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Morgan Stanley increased their price target 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. Finally, Scotiabank increased their price target 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. 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 stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average price target of $84.62.

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.