Strategic Family Wealth Counselors L.L.C. Acquires Shares of 2,487 Public Service Enterprise Group Incorporated (NYSE:PEG)

Strategic Family Wealth Counselors L.L.C. bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,487 shares of the utilities provider’s stock, valued at approximately $222,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PEG. Family Firm Inc. acquired a new position in Public Service Enterprise Group in the second quarter valued at approximately $33,000. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth $35,000. Northwest Investment Counselors LLC purchased a new stake in Public Service Enterprise Group in the 3rd quarter valued at about $48,000. Country Trust Bank acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $52,000. Finally, Friedenthal Financial purchased a new position in shares of Public Service Enterprise Group during the second quarter worth approximately $52,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PEG. BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Morgan Stanley raised their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Evercore ISI lifted their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company boosted their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.69.

Insider Buying and Selling

In related news, EVP Tamara Louise Linde sold 9,563 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the transaction, the executive vice president now owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the sale, the executive vice president now owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of 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 0.00 % 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 worth $3,397,855 in the last quarter. 0.18% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Up 2.2 %

Shares of Public Service Enterprise Group stock traded up $1.89 during trading on Friday, hitting $86.12. 268,953 shares of the stock traded hands, compared to its average volume of 2,779,644. The company has a fifty day moving average price of $86.62 and a two-hundred day moving average price of $79.03. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $92.20. The stock has a market cap of $42.90 billion, a P/E ratio of 20.71, a PEG 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.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly 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 company 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 10.78%. Public Service Enterprise Group’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 EPS. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

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.