Edge Financial Advisors LLC Invests $279,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Edge Financial Advisors LLC purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,128 shares of the utilities provider’s stock, valued at approximately $279,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEG. Heritage Wealth Management Inc. purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $422,000. QRG Capital Management Inc. boosted its holdings in shares of 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 valued at $5,227,000 after buying an additional 15,505 shares in the last quarter. CWM LLC boosted its holdings in shares of Public Service Enterprise Group by 72.3% during the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock valued at $1,532,000 after buying an additional 8,723 shares in the last quarter. Czech National Bank grew its position in shares of Public Service Enterprise Group by 8.3% in the 2nd quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock worth $6,995,000 after buying an additional 7,235 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of 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 acquiring an additional 38,188 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.2 %

Shares of PEG traded up $0.18 during midday trading on Wednesday, reaching $88.34. The company had a trading volume of 112,102 shares, compared to its average volume of 2,769,960. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $92.20. The stock has a market cap of $44.01 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 2.73 and a beta of 0.61. 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 firm has a 50 day simple moving average of $86.04 and a 200-day simple moving average of $78.25.

Public Service Enterprise Group (NYSE:PEG) last announced its 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 during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company earned $0.70 earnings per share. Research analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PEG shares. Scotiabank boosted 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. Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 target price for the company. Bank of America raised their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. BMO Capital Markets increased their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Finally, Evercore ISI boosted their price target on 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.46.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on 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 transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the sale, the executive vice president now directly owns 57,961 shares in the company, valued at approximately $4,610,217.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,010 shares of company stock valued at $3,397,855. 0.18% of the stock is owned by corporate insiders.

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.