Strategic Family Wealth Counselors L.L.C. Buys New Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Strategic Family Wealth Counselors L.L.C. acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,487 shares of the utilities provider’s stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEG. TFB Advisors LLC bought a new stake in Public Service Enterprise Group during the third quarter worth $214,000. Consolidated Planning Corp bought a new position in Public Service Enterprise Group during the third quarter worth about $396,000. Principal Financial Group Inc. raised its position in shares of Public Service Enterprise Group by 3.1% in the third quarter. Principal Financial Group Inc. now owns 602,574 shares of the utilities provider’s stock valued at $53,756,000 after purchasing an additional 18,344 shares during the period. Graypoint LLC boosted its holdings in Public Service Enterprise Group by 7.8% in the 3rd quarter. Graypoint LLC now owns 4,323 shares of the utilities provider’s stock worth $386,000 after buying an additional 313 shares during the period. Finally, Concurrent Investment Advisors LLC raised its holdings in Public Service Enterprise Group by 7.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 15,075 shares of the utilities provider’s stock valued at $1,345,000 after acquiring an additional 1,043 shares during the period. 73.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PEG has been the topic of several analyst reports. Royal Bank of Canada upped their price target on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. 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. Evercore ISI boosted their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Wells Fargo & Company lifted their price target on 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, Bank of America raised their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $86.69.

Public Service Enterprise Group Stock Performance

Shares of PEG stock traded up $1.89 during mid-day trading on Friday, reaching $86.12. 268,953 shares of the company’s stock traded hands, compared to its average volume of 2,779,644. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. The firm has a market capitalization of $42.90 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 2.69 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $92.20. The firm has a 50 day moving average price of $86.62 and a two-hundred day moving average price of $79.03.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.78% and a net margin of 19.48%. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the company earned $0.85 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 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 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 sale, the executive vice president now directly 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 legal filing with the SEC, which is available through this link. In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the sale, the chief executive officer now directly owns 147,514 shares in the company, valued at $13,305,762.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 completion of the transaction, the executive vice president now directly owns 67,524 shares in the company, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,010 shares of company stock worth $3,397,855. 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.