Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Arvest Investments Inc.

Arvest Investments Inc. decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 24,745 shares of the utilities provider’s stock after selling 3,206 shares during the period. Arvest Investments Inc.’s holdings in Public Service Enterprise Group were worth $2,208,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Old Port Advisors increased its holdings in shares of Public Service Enterprise Group by 0.5% in the 3rd quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock worth $2,099,000 after acquiring an additional 113 shares during the period. Smallwood Wealth Investment Management LLC increased its stake in shares of Public Service Enterprise Group by 1.3% in the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock valued at $827,000 after purchasing an additional 115 shares during the period. Cigna Investments Inc. New raised its holdings in shares of Public Service Enterprise Group by 2.5% during the third quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock valued at $451,000 after buying an additional 124 shares during the last quarter. Great Lakes Retirement Inc. boosted its position in shares of Public Service Enterprise Group by 0.4% during the third quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock worth $2,619,000 after buying an additional 127 shares during the period. Finally, Brighton Jones LLC grew its holdings in Public Service Enterprise Group by 1.8% in the 2nd quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock worth $548,000 after buying an additional 131 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the topic of several recent analyst reports. Evercore ISI lifted their target price on 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. Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 price objective on the stock. UBS Group increased their target price on shares of 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. Barclays dropped their price target on shares of 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. Finally, Wells Fargo & Company increased their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Four 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. Based on data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $86.69.

Insider Transactions at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the transaction, the chief executive officer now owns 147,514 shares of the company’s stock, valued at $13,305,762.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,010 shares of company stock worth $3,397,855. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG traded up $1.59 on Friday, hitting $85.82. The company had a trading volume of 2,639,223 shares, compared to its average volume of 2,790,766. The stock has a market cap of $42.76 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 3.06 and a beta of 0.61. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.46. The company’s fifty day moving average price is $86.80 and its 200 day moving average price is $79.28. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 EPS. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

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.