2,358 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Acquired by Brooklyn Investment Group

Brooklyn Investment Group purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,358 shares of the utilities provider’s stock, valued at approximately $210,000.

Several other institutional investors have also modified their holdings of the business. Family Firm Inc. purchased a new position in Public Service Enterprise Group in the second quarter valued at $33,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $35,000. Ashton Thomas Securities LLC purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at about $35,000. Northwest Investment Counselors LLC purchased a new stake in shares of Public Service Enterprise Group during the third quarter worth approximately $48,000. Finally, Country Trust Bank acquired a new stake in Public Service Enterprise Group in the second quarter valued at approximately $52,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PEG. Evercore ISI boosted their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. UBS Group boosted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. BMO Capital Markets increased their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Barclays decreased their price target on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Morgan Stanley increased their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Four 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.69.

Public Service Enterprise Group Price Performance

PEG stock opened at $94.51 on Wednesday. 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 company has a market capitalization of $47.09 billion, a P/E ratio of 23.22, a PEG ratio of 3.41 and a beta of 0.61. The business has a 50 day simple moving average of $88.74 and a 200-day simple moving average of $81.01. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $94.67.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 earnings per share. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.60 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.54%. Public Service Enterprise Group’s payout ratio is 58.97%.

Insider Activity

In other news, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the sale, the executive vice president now directly owns 48,397 shares in the company, valued at $4,385,252.17. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. This trade represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,739 shares of company stock worth $2,467,753 over the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Company 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.