1,747 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Bought by Reston Wealth Management LLC

Reston Wealth Management LLC bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the third quarter, according to its most recent filing with the SEC. The firm bought 1,747 shares of the utilities provider’s stock, valued at approximately $156,000.

Several other hedge funds have also bought and sold shares of the business. Old Port Advisors grew its holdings in shares of Public Service Enterprise Group by 0.5% during the third quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock valued at $2,099,000 after buying an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC increased its holdings in Public Service Enterprise Group by 1.3% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock worth $827,000 after purchasing an additional 115 shares in the last quarter. Great Lakes Retirement Inc. raised its stake in shares of Public Service Enterprise Group by 0.4% in the third quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock worth $2,619,000 after purchasing an additional 127 shares during the last quarter. Brighton Jones LLC lifted its holdings in shares of Public Service Enterprise Group by 1.8% in the second quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock valued at $548,000 after purchasing an additional 131 shares in the last quarter. Finally, Little House Capital LLC boosted its position in shares of Public Service Enterprise Group by 1.2% during the third quarter. Little House Capital LLC now owns 11,063 shares of the utilities provider’s stock valued at $987,000 after buying an additional 134 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the sale, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Tamara Louise Linde sold 9,564 shares of the company’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 sale, the executive vice president now owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 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 approximately $13,305,762.80. 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 a total of 41,010 shares of company stock worth $3,397,855 over the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $89.41 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The company has a market cap of $44.54 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 2.91 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $92.20. The firm’s 50-day simple moving average is $86.35 and its two-hundred day simple moving average is $78.40.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data 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 return on equity of 10.72% and a net margin of 16.12%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $0.70 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Analysts Set New Price Targets

PEG has been the subject of a number of analyst reports. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Evercore ISI lifted their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Royal Bank of Canada upped their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Jefferies Financial Group started coverage on Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 price target on the stock. One 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.46.

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.