Oppenheimer & Co. Inc. Has $9.84 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Oppenheimer & Co. Inc. grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,334 shares of the utilities provider’s stock after purchasing an additional 288 shares during the period. Oppenheimer & Co. Inc.’s holdings in Public Service Enterprise Group were worth $9,843,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Financial Partners Inc bought a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $269,000. MQS Management LLC acquired a new position in Public Service Enterprise Group during the third quarter worth $467,000. Haverford Trust Co raised its holdings in Public Service Enterprise Group by 31.3% during the third quarter. Haverford Trust Co now owns 15,015 shares of the utilities provider’s stock valued at $1,339,000 after buying an additional 3,577 shares in the last quarter. Empower Advisory Group LLC lifted its position in shares of Public Service Enterprise Group by 16.7% in the third quarter. Empower Advisory Group LLC now owns 5,533 shares of the utilities provider’s stock worth $494,000 after buying an additional 792 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in shares of Public Service Enterprise Group by 9.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 14,713 shares of the utilities provider’s stock worth $1,313,000 after acquiring an additional 1,309 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the sale, the senior vice president now owns 25,829 shares in the company, valued at approximately $2,271,660.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’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 completion of the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,783 shares of company stock valued at $2,381,626 over the last quarter. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Up 0.4 %

Public Service Enterprise Group stock opened at $87.06 on Thursday. The business has a 50 day moving average price of $87.08 and a two-hundred day moving average price of $79.64. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $92.20. The stock has a market cap of $43.38 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 3.17 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the company posted $0.85 earnings per share. Public Service Enterprise Group’s revenue was up 7.6% on a year-over-year basis. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PEG shares. Wells Fargo & Company raised their price objective on 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. Bank of America boosted their price objective on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Morgan Stanley upped their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. UBS Group lifted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, 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. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.69.

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.