Arbor Investment Advisors LLC Buys Shares of 6,000 Public Service Enterprise Group Incorporated (NYSE:PEG)

Arbor Investment Advisors LLC purchased 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 13F filing with the SEC. The firm purchased 6,000 shares of the utilities provider’s stock, valued at approximately $535,000.

Other hedge funds also recently modified their holdings of the company. Heritage Wealth Management Inc. bought a new position in Public Service Enterprise Group in the 2nd quarter worth about $422,000. QRG Capital Management Inc. increased its holdings in Public Service Enterprise Group by 28.0% during the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock worth $5,227,000 after acquiring an additional 15,505 shares during the period. CWM LLC lifted its stake in Public Service Enterprise Group by 72.3% in the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock worth $1,532,000 after purchasing an additional 8,723 shares in the last quarter. Czech National Bank lifted its position in Public Service Enterprise Group by 8.3% during the second quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock valued at $6,995,000 after purchasing an additional 7,235 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Public Service Enterprise Group by 145.5% in the 1st quarter. SG Americas Securities LLC now owns 64,437 shares of the utilities provider’s stock worth $4,303,000 after buying an additional 38,188 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG traded up $0.80 on Monday, reaching $90.43. 347,857 shares of the stock were exchanged, compared to its average volume of 2,390,105. 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 fifty-two week low of $56.85 and a fifty-two week high of $92.20. The firm has a market capitalization of $45.05 billion, a PE ratio of 27.40, a PEG ratio of 2.73 and a beta of 0.61. The company’s 50-day moving average price is $85.69 and its 200 day moving average price is $77.92.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $0.70 earnings per share. As a group, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal 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 shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the transaction, the executive vice president now directly owns 67,524 shares in the company, valued at $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 available through the SEC website. In related 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 transaction, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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 stock was sold at an average price of $90.20, for a total value of $124,295.60. Following the transaction, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at $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 sold 41,010 shares of company stock worth $3,397,855 over the last three months. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on PEG shares. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. UBS Group upped their price target on Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Evercore ISI upped 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 note on Tuesday, October 8th. Scotiabank lifted their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Finally, Jefferies Financial Group began coverage on Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 price objective for the company. 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. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average price target of $87.15.

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.