Umpqua Bank Acquires 323 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Umpqua Bank increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,331 shares of the utilities provider’s stock after buying an additional 323 shares during the period. Umpqua Bank’s holdings in Public Service Enterprise Group were worth $654,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Family Firm Inc. bought a new position in Public Service Enterprise Group during the second quarter worth about $33,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group in the third quarter valued at approximately $48,000. Country Trust Bank bought a new stake in shares of Public Service Enterprise Group during the second quarter worth $52,000. Finally, Friedenthal Financial bought a new stake in Public Service Enterprise Group in the 2nd quarter valued at $52,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on PEG. Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 price target for the company. BMO Capital Markets increased their price objective 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 increased their price target on shares of 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. Wells Fargo & Company boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada lifted their price target on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average price target of $86.69.

Public Service Enterprise Group Trading Down 0.2 %

Shares of NYSE:PEG traded down $0.18 during mid-day trading on Wednesday, reaching $83.60. 60,687 shares of the company’s stock were exchanged, compared to its average volume of 2,779,697. The firm has a market capitalization of $41.65 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 2.87 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. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $92.20. The business’s fifty day moving average price is $86.56 and its 200-day moving average price is $78.99.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Insider Transactions at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the transaction, the executive vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the transaction, the chief executive officer now owns 147,514 shares in the company, valued at approximately $13,305,762.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,010 shares of company stock valued at $3,397,855 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

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.