OneAscent Wealth Management LLC Buys Shares of 3,134 Public Service Enterprise Group Incorporated (NYSE:PEG)

OneAscent Wealth Management LLC purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,134 shares of the utilities provider’s stock, valued at approximately $280,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates boosted its holdings in Public Service Enterprise Group by 30.1% during the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock worth $255,954,000 after buying an additional 663,012 shares during the last quarter. Hamlin Capital Management LLC raised its position in shares of Public Service Enterprise Group by 7.2% in the 3rd quarter. Hamlin Capital Management LLC now owns 2,427,336 shares of the utilities provider’s stock valued at $216,543,000 after acquiring an additional 162,731 shares during the period. Hsbc Holdings PLC grew its holdings in Public Service Enterprise Group by 43.2% during the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after purchasing an additional 732,443 shares during the period. abrdn plc grew its holdings in Public Service Enterprise Group by 10.2% during the third quarter. abrdn plc now owns 1,792,186 shares of the utilities provider’s stock valued at $159,074,000 after purchasing an additional 165,995 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Public Service Enterprise Group by 10.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,734,257 shares of the utilities provider’s stock valued at $127,809,000 after purchasing an additional 163,333 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PEG shares. UBS Group upped their price objective 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. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Morgan Stanley boosted their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Bank of America raised 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. Finally, Wells Fargo & Company upped their price target 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 investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $86.69.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $89.43 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The firm has a fifty day simple moving average of $87.68 and a 200 day simple moving average of $80.17. The stock has a market capitalization of $44.56 billion, a PE ratio of 21.97, a P/E/G ratio of 3.27 and a beta of 0.61. 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 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 return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the business earned $0.85 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. The trade was a 0.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the transaction, the executive vice president now directly owns 57,961 shares in the company, valued at approximately $4,610,217.94. This represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,783 shares of company stock valued at $2,381,626. Company insiders own 0.18% 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.