Chesapeake Wealth Management Sells 185 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Chesapeake Wealth Management lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,792 shares of the utilities provider’s stock after selling 185 shares during the period. Chesapeake Wealth Management’s holdings in Public Service Enterprise Group were worth $338,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PEG. Ashton Thomas Securities LLC purchased a new stake in Public Service Enterprise Group during the 3rd quarter valued at approximately $35,000. Family Firm Inc. bought a new stake in shares of Public Service Enterprise Group during the second quarter worth $33,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group during the second quarter worth $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group during the third quarter worth $48,000. Finally, Country Trust Bank bought a new stake in shares of Public Service Enterprise Group during the second quarter worth $52,000. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $79.54, for a total value 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 $4,610,217.94. This represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was 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 in the company, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. Over 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.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PEG shares. Morgan Stanley lifted their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. BMO Capital Markets upped their target price on 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. 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 research report on Tuesday, November 5th. Bank of America upped their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, UBS Group upped their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $86.69.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $89.43 on Tuesday. The stock has a fifty day moving average price of $87.68 and a 200 day moving average price of $80.17. The stock has a market cap 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. 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 (NYSE:PEG) last issued 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. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. Public Service Enterprise Group’s revenue was up 7.6% on a year-over-year basis. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

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.