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

Oak Harbor Wealth Partners LLC acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 16,486 shares of the utilities provider's stock, valued at approximately $1,471,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sei Investments Co. lifted its position in shares of Public Service Enterprise Group by 35.7% during the 1st quarter. Sei Investments Co. now owns 243,152 shares of the utilities provider's stock valued at $16,237,000 after acquiring an additional 63,983 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Public Service Enterprise Group by 18.7% during the 1st quarter. Russell Investments Group Ltd. now owns 285,077 shares of the utilities provider's stock worth $19,037,000 after buying an additional 44,981 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Public Service Enterprise Group by 8.8% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 125,387 shares of the utilities provider's stock worth $8,373,000 after buying an additional 10,118 shares during the period. Kingsview Wealth Management LLC increased 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 worth $388,000 after acquiring an additional 619 shares in the last quarter. Finally, Blair William & Co. IL increased its position in shares of Public Service Enterprise Group by 5.8% in the first quarter. Blair William & Co. IL now owns 13,458 shares of the utilities provider's stock worth $899,000 after acquiring an additional 735 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Up 2.3 %

Shares of NYSE PEG traded up $1.99 during mid-day trading on Friday, reaching $88.99. 2,302,368 shares of the company traded hands, compared to its average volume of 2,779,696. The company's fifty day moving average is $87.32 and its two-hundred day moving average is $79.74. 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 fifty-two week low of $56.85 and a fifty-two week high of $92.20. The stock has a market cap of $44.34 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 3.20 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate 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 company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the company posted $0.85 earnings per share. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PEG shares. 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 note on Tuesday, August 20th. Jefferies Financial Group began coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They issued a "hold" rating and a $85.00 target price for the company. UBS Group upped their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a research 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 research report on Monday, August 5th. Finally, Barclays dropped their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $86.69.

Insider Buying and Selling at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 5,900 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction 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 represents a 18.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tamara Louise Linde sold 9,563 shares of the 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. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,783 shares of company stock worth $2,381,626 over the last ninety days. Company 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.