3,134 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Bought by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,134 shares of the utilities provider’s stock, valued at approximately $280,000.

Several other institutional investors have also recently bought and sold shares of PEG. Capital City Trust Co. FL grew its stake in shares of Public Service Enterprise Group by 0.9% in the 3rd quarter. Capital City Trust Co. FL now owns 47,221 shares of the utilities provider’s stock worth $4,213,000 after acquiring an additional 419 shares in the last quarter. Planning Directions Inc. bought a new stake in Public Service Enterprise Group during the 3rd quarter valued at $232,000. Kayne Anderson Capital Advisors LP lifted its holdings in Public Service Enterprise Group by 12.7% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 133,102 shares of the utilities provider’s stock worth $11,874,000 after purchasing an additional 15,045 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Public Service Enterprise Group by 0.6% in the third quarter. Thrivent Financial for Lutherans now owns 1,188,556 shares of the utilities provider’s stock worth $106,031,000 after buying an additional 6,958 shares in the last quarter. Finally, Atlanta Consulting Group Advisors LLC bought a new position in Public Service Enterprise Group in the 3rd quarter valued at $257,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the 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 transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. This represents a 0.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at $4,385,252.17. This represents a 16.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,783 shares of company stock worth $2,381,626. 0.18% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Up 0.5 %

Public Service Enterprise Group stock opened at $89.43 on Tuesday. The stock has a 50-day moving average price of $87.68 and a 200 day moving average price of $80.17. The company has a market capitalization of $44.56 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 3.27 and a beta of 0.61. 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 52 week low of $56.85 and a 52 week high of $92.20.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on PEG. Bank of America raised their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Morgan Stanley upped their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Evercore ISI lifted their target price on shares of 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. BMO Capital Markets increased 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 research note on Monday, October 21st. Finally, Scotiabank upped their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.69.

About Public Service Enterprise Group

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.