Arbor Investment Advisors LLC Takes Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Arbor Investment Advisors LLC acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,000 shares of the utilities provider’s stock, valued at approximately $535,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEG. Family Firm Inc. bought a new position in Public Service Enterprise Group during the 2nd quarter worth about $33,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group during the second quarter worth $35,000. Salomon & Ludwin LLC grew its position in Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 560 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group in the 3rd quarter valued at $48,000. Finally, Country Trust Bank acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter worth about $52,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Trading Up 0.9 %

PEG traded up $0.80 during trading on Monday, reaching $90.43. 347,857 shares of the stock traded hands, compared to its average volume of 2,390,105. The stock’s 50-day moving average is $85.69 and its 200 day moving average is $77.92. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $92.20. 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 stock has a market capitalization of $45.05 billion, a PE ratio of 27.40, a P/E/G ratio of 2.73 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the business earned $0.70 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Tamara Louise Linde sold 9,563 shares of the company’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 transaction, the executive vice president now owns 57,961 shares in the company, valued at approximately $4,610,217.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tamara Louise Linde sold 9,563 shares of the firm’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 transaction, the executive vice president now directly owns 57,961 shares in the company, valued at $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. Insiders have sold a total of 41,010 shares of company stock valued at $3,397,855 over the last ninety days. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of recent analyst reports. Bank of America boosted their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Wells Fargo & Company raised their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Jefferies Financial Group started coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 price target for the company. Finally, BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.15.

Public Service Enterprise Group 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.