Austin Private Wealth LLC Makes New Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

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

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

Insider Transactions at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the sale, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at approximately $13,305,762.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,010 shares of company stock valued at $3,397,855. 0.18% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $83.78 on Wednesday. The stock’s 50-day moving average is $86.56 and its two-hundred day moving average is $78.99. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $92.20. The company has a market cap of $41.74 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 2.87 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share 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 company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the business earned $0.85 EPS. Public Service Enterprise Group’s revenue was up 7.6% on a year-over-year basis. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PEG shares. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Jefferies Financial Group started coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They issued a “hold” rating and a $85.00 target price on the stock. UBS Group lifted their target price 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. Bank of America lifted their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Scotiabank boosted their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. 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 company’s stock. According to MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus price target of $86.69.

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.