Stonebrook Private Inc. Has $1.17 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Stonebrook Private Inc. boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 77.2% during the third quarter, HoldingsChannel.com reports. The fund owned 13,110 shares of the utilities provider’s stock after purchasing an additional 5,713 shares during the period. Stonebrook Private Inc.’s holdings in Public Service Enterprise Group were worth $1,170,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PEG. Heritage Wealth Management Inc. bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $422,000. QRG Capital Management Inc. grew its position in Public Service Enterprise Group by 28.0% in the second quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock valued at $5,227,000 after acquiring an additional 15,505 shares during the period. CWM LLC raised its stake in Public Service Enterprise Group by 72.3% during the second quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock worth $1,532,000 after acquiring an additional 8,723 shares in the last quarter. Czech National Bank lifted its holdings in shares of Public Service Enterprise Group by 8.3% during the second quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock valued at $6,995,000 after acquiring an additional 7,235 shares during the period. Finally, Colonial River Investments LLC acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at $634,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PEG. Wells Fargo & Company increased their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Scotiabank lifted their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 target price on the stock. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Finally, Bank of America boosted their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Four research 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’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 value of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. The trade was a 0.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the sale, the executive vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,739 shares of company stock worth $2,467,753. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $92.39 on Friday. The business’s 50-day simple moving average is $88.38 and its 200 day simple moving average is $80.61. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The stock has a market cap of $46.03 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 3.39 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $93.00.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating 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 company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

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.