Oak Harbor Wealth Partners LLC Takes $1.47 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Oak Harbor Wealth Partners LLC purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,486 shares of the utilities provider’s stock, valued at approximately $1,471,000.

Other large investors also recently modified their holdings of the company. Family Firm Inc. bought a new position in Public Service Enterprise Group during the 2nd quarter worth $33,000. OFI Invest Asset Management bought a new position in Public Service Enterprise Group during the 2nd quarter worth $35,000. Ashton Thomas Securities LLC bought a new position in Public Service Enterprise Group during the 3rd quarter worth $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group during the 3rd quarter worth $48,000. Finally, Country Trust Bank bought a new position in Public Service Enterprise Group during the 2nd quarter worth $52,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

PEG stock opened at $87.00 on Friday. The company has a market capitalization of $43.35 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 3.20 and a beta of 0.61. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $92.20. The business has a 50-day simple moving average of $87.20 and a two-hundred day simple moving average of $79.69.

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

Analyst Ratings Changes

A number of analysts have weighed in on PEG shares. Bank of America increased their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Wells Fargo & Company increased their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. UBS Group increased their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. 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. Finally, Scotiabank increased their price target 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. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the transaction, the executive vice president now directly 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. In the last quarter, insiders sold 27,783 shares of company stock worth $2,381,626. Insiders own 0.57% of the company’s stock.

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.