PFG Investments LLC Buys 910 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

PFG Investments LLC increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,235 shares of the utilities provider’s stock after acquiring an additional 910 shares during the period. PFG Investments LLC’s holdings in Public Service Enterprise Group were worth $2,697,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PEG. Family Firm Inc. purchased a new stake in shares of Public Service Enterprise Group during the second quarter worth about $33,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group in the 2nd quarter worth approximately $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $48,000. Salomon & Ludwin LLC grew its position in shares of Public Service Enterprise Group by 1,866.7% in the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after buying an additional 560 shares during the last quarter. Finally, Country Trust Bank purchased a new position in shares of Public Service Enterprise Group during the second quarter valued at approximately $52,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on PEG shares. Barclays lifted their price target on shares of Public Service Enterprise Group from $80.00 to $98.00 and gave the company an “overweight” rating in a report on Monday, October 7th. 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. Royal Bank of Canada raised their price objective on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Evercore ISI lifted their price objective on 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. Finally, Wells Fargo & Company increased their target price 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. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average target price of $87.15.

Public Service Enterprise Group Stock Down 1.0 %

PEG stock traded down $0.86 during trading on Friday, hitting $89.63. 1,951,656 shares of the stock traded hands, compared to its average volume of 2,787,610. The stock has a market cap of $44.65 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 2.71 and a beta of 0.61. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $92.20. The firm’s 50 day moving average is $85.69 and its two-hundred day moving average is $77.77.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $2.42 billion for 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%. Public Service Enterprise Group’s revenue was up .1% on a year-over-year basis. During the same period last year, the business earned $0.70 EPS. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Insider Activity

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Public Service Enterprise Group 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 shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 147,514 shares of the company’s stock, valued at approximately $13,305,762.80. This 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 valued at $3,397,855 over the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

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.