Maxwell Wealth Strategies Inc. Acquires New Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Maxwell Wealth Strategies Inc. bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 8,628 shares of the utilities provider’s stock, valued at approximately $723,000.

A number of other institutional investors have also modified their holdings of PEG. Heritage Wealth Management Inc. bought a new position in Public Service Enterprise Group in the second quarter worth approximately $422,000. QRG Capital Management Inc. increased its stake in shares of Public Service Enterprise Group by 28.0% during the second quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock valued at $5,227,000 after buying an additional 15,505 shares during the period. CWM LLC raised its holdings in shares of Public Service Enterprise Group by 72.3% in the second quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock valued at $1,532,000 after acquiring an additional 8,723 shares in the last quarter. Czech National Bank lifted its stake in Public Service Enterprise Group by 8.3% in the second quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock worth $6,995,000 after acquiring an additional 7,235 shares during the period. Finally, Diversified Trust Co bought a new position in Public Service Enterprise Group during the 2nd quarter worth about $585,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Up 2.3 %

NYSE:PEG opened at $88.99 on Friday. The company’s 50 day moving average is $87.50 and its two-hundred day moving average is $79.89. The company has a market cap of $44.34 billion, a PE ratio of 21.86, a P/E/G ratio of 3.20 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 current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in 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 research report on Monday, August 5th. Scotiabank increased their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Morgan Stanley upped their price objective on 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. Finally, Barclays cut their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.69.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The trade was a 0.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,783 shares of company stock worth $2,381,626 over the last three months. 0.57% of the stock is currently owned by insiders.

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.