Maxwell Wealth Strategies Inc. Acquires New Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Maxwell Wealth Strategies Inc. acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,628 shares of the utilities provider's stock, valued at approximately $723,000.

Several other hedge funds have also 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 approximately $33,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth about $35,000. Ashton Thomas Securities LLC bought a new position in shares of Public Service Enterprise Group in the 3rd quarter worth about $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at about $48,000. Finally, Country Trust Bank acquired a new stake in Public Service Enterprise Group during the second quarter worth approximately $52,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG traded up $1.99 during mid-day trading on Friday, reaching $88.99. 2,473,685 shares of the company's stock were exchanged, compared to its average volume of 2,779,696. The firm has a 50-day moving average price of $87.50 and a two-hundred day moving average price of $79.89. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The firm has a market capitalization of $44.34 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 3.20 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $92.20.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results 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 10.70%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the firm earned $0.85 EPS. The company's revenue was up 7.6% compared to the same quarter last year. Analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the 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 sale, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. This represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the transaction, the senior vice president now owns 25,829 shares of the company's stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,783 shares of company stock valued at $2,381,626 in the last 90 days. Insiders own 0.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PEG. Scotiabank raised 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 report on Tuesday, August 20th. Evercore ISI boosted their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. Barclays lowered their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a research report on Monday, October 21st. Finally, LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 5th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $86.69.

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.