D.B. Root & Company LLC Sells 302 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

D.B. Root & Company LLC trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,021 shares of the utilities provider’s stock after selling 302 shares during the period. D.B. Root & Company LLC’s holdings in Public Service Enterprise Group were worth $448,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Family Firm Inc. purchased a new position in Public Service Enterprise Group during the second quarter valued at $33,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group during the second quarter valued at $35,000. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group during the third quarter valued at $48,000. Country Trust Bank purchased a new position in Public Service Enterprise Group during the second quarter valued at $52,000. Finally, Friedenthal Financial purchased a new position in Public Service Enterprise Group during the second quarter valued at $52,000. 73.34% of the stock is currently owned by institutional investors.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tamara Louise Linde sold 9,563 shares of the business’s 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 owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,010 shares of company stock worth $3,397,855 in the last 90 days. 0.18% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Up 0.0 %

Shares of PEG opened at $83.81 on Thursday. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $92.20. The company has a 50-day moving average of $86.62 and a 200 day moving average of $79.03. The firm has a market capitalization of $41.75 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.69 and a beta of 0.61. 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 (NYSE:PEG) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.78%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the business posted $0.85 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Evercore ISI raised 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. Wells Fargo & Company lifted their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Barclays dropped their price objective on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday. Scotiabank lifted their price objective on shares of 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. Finally, BMO Capital Markets lifted their price objective 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. Four research 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.69.

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.