My Legacy Advisors LLC Decreases Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

My Legacy Advisors LLC cut its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,009 shares of the utilities provider’s stock after selling 1,131 shares during the period. My Legacy Advisors LLC’s holdings in Public Service Enterprise Group were worth $714,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Family Firm Inc. purchased a new position in Public Service Enterprise Group in the second quarter worth about $33,000. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group during the second quarter valued at approximately $35,000. Northwest Investment Counselors LLC purchased a new stake in Public Service Enterprise Group during the first quarter valued at approximately $36,000. Salomon & Ludwin LLC increased its holdings in Public Service Enterprise Group by 1,866.7% during the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after buying an additional 560 shares during the last quarter. Finally, PFS Partners LLC increased its holdings in Public Service Enterprise Group by 90.9% during the first quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after buying an additional 300 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Down 0.2 %

Public Service Enterprise Group stock traded down $0.15 during midday trading on Tuesday, hitting $90.02. 632,757 shares of the company’s stock were exchanged, compared to its average volume of 2,794,148. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $92.20. The company has a market cap of $44.84 billion, a PE ratio of 24.90, a P/E/G ratio of 2.69 and a beta of 0.61. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. The firm has a 50-day moving average of $84.91 and a two-hundred day moving average of $77.26.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate 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 in the prior year, the business posted $0.70 earnings per share. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of recent analyst reports. Bank of America upped their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. BMO Capital Markets upped their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday. Jefferies Financial Group started coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They issued 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 research note on Monday, August 5th. Finally, Scotiabank raised their price target 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 analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $87.15.

Insider Buying and Selling

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,564 shares of the firm’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 completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group 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 transaction, 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 disclosure for this sale can be found here. Insiders sold 41,010 shares of company stock worth $3,397,855 in the last three months. Corporate 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.