OneDigital Investment Advisors LLC Boosts Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

OneDigital Investment Advisors LLC increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,382 shares of the utilities provider’s stock after buying an additional 390 shares during the period. OneDigital Investment Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,729,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Kingsview Wealth Management LLC grew its position in shares of Public Service Enterprise Group by 11.9% in the first quarter. Kingsview Wealth Management LLC now owns 5,814 shares of the utilities provider’s stock valued at $388,000 after purchasing an additional 619 shares in the last quarter. Blair William & Co. IL increased its position in shares of Public Service Enterprise Group by 5.8% during the first quarter. Blair William & Co. IL now owns 13,458 shares of the utilities provider’s stock valued at $899,000 after buying an additional 735 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Public Service Enterprise Group by 34.4% in the first quarter. Intech Investment Management LLC now owns 17,053 shares of the utilities provider’s stock worth $1,139,000 after buying an additional 4,362 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Public Service Enterprise Group in the first quarter valued at approximately $333,000. Finally, O Shaughnessy Asset Management LLC grew its stake in Public Service Enterprise Group by 23.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 27,277 shares of the utilities provider’s stock valued at $1,822,000 after acquiring an additional 5,246 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were 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. This represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the transaction, the executive vice president now owns 48,397 shares in the company, valued at approximately $4,385,252.17. This represents a 16.50 % 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 in the last quarter. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Morgan Stanley raised their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Evercore ISI raised their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Scotiabank boosted their price objective 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, Bank of America raised their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.69.

Public Service Enterprise Group Stock Up 2.3 %

Shares of NYSE:PEG opened at $88.99 on Monday. The stock has a market capitalization of $44.34 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 3.27 and a beta of 0.61. The stock’s 50-day moving average price is $87.50 and its 200-day moving average price is $80.03. The company has a current ratio of 0.68, a quick ratio of 0.48 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.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the firm earned $0.85 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

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.