Stewardship Advisors LLC Acquires New Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Stewardship Advisors LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,893 shares of the utilities provider’s stock, valued at approximately $258,000.

Other hedge funds have also modified their holdings of the company. Park Avenue Securities LLC lifted its position in shares of Public Service Enterprise Group by 5.4% during the 1st quarter. Park Avenue Securities LLC now owns 26,733 shares of the utilities provider’s stock valued at $1,785,000 after acquiring an additional 1,378 shares during the period. &PARTNERS acquired a new position in shares of Public Service Enterprise Group during the 1st quarter worth $425,000. Northwest Investment Counselors LLC purchased a new stake in shares of Public Service Enterprise Group in the 1st quarter worth about $36,000. Gateway Investment Advisers LLC grew its stake in Public Service Enterprise Group by 13.1% in the 1st quarter. Gateway Investment Advisers LLC now owns 9,406 shares of the utilities provider’s stock valued at $628,000 after acquiring an additional 1,092 shares during the last quarter. Finally, Beech Hill Advisors Inc. increased its holdings in Public Service Enterprise Group by 3.2% during the 1st quarter. Beech Hill Advisors Inc. now owns 14,250 shares of the utilities provider’s stock valued at $952,000 after acquiring an additional 445 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on PEG. Evercore ISI increased their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Royal Bank of Canada raised their price target on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Bank of America upped their price objective 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. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company boosted their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.15.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the sale, the executive vice president now owns 48,397 shares in the company, valued at approximately $4,385,252.17. 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 accessible through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. 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 a total of 41,010 shares of company stock worth $3,397,855 over the last quarter. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Up 0.5 %

NYSE:PEG traded up $0.46 on Monday, hitting $90.22. 891,781 shares of the stock were exchanged, compared to its average volume of 2,800,456. The stock has a market cap of $44.94 billion, a PE ratio of 25.08, a PEG ratio of 2.69 and a beta of 0.61. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $92.20. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The stock has a fifty day moving average of $84.72 and a 200-day moving average of $77.10.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business posted $0.70 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

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.