7,397 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Purchased by Stonebrook Private Inc.

Stonebrook Private Inc. acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,397 shares of the utilities provider’s stock, valued at approximately $545,000.

Other institutional investors have also bought and sold shares of the company. Gilbert & Cook Inc. lifted its position in Public Service Enterprise Group by 5.4% during the fourth quarter. Gilbert & Cook Inc. now owns 7,327 shares of the utilities provider’s stock worth $448,000 after buying an additional 373 shares in the last quarter. National Bank of Canada FI increased its position in Public Service Enterprise Group by 7.9% during the fourth quarter. National Bank of Canada FI now owns 131,060 shares of the utilities provider’s stock worth $8,065,000 after purchasing an additional 9,592 shares during the last quarter. Spire Wealth Management raised its stake in Public Service Enterprise Group by 3.6% during the fourth quarter. Spire Wealth Management now owns 5,479 shares of the utilities provider’s stock worth $321,000 after purchasing an additional 189 shares during the period. Lincoln National Corp boosted its holdings in Public Service Enterprise Group by 31.7% in the 4th quarter. Lincoln National Corp now owns 5,437 shares of the utilities provider’s stock valued at $332,000 after purchasing an additional 1,310 shares during the last quarter. Finally, Apollon Wealth Management LLC increased its holdings in shares of Public Service Enterprise Group by 18.3% during the 4th quarter. Apollon Wealth Management LLC now owns 8,192 shares of the utilities provider’s stock worth $501,000 after buying an additional 1,265 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 in the company, valued at $12,014,095.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated 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 owns 148,892 shares in the company, valued at $12,014,095.48. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of recent analyst reports. Mizuho upped their price objective on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Bank of America increased their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Barclays raised their price objective on Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Royal Bank of Canada increased their target price on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $77.33.

Public Service Enterprise Group Stock Down 1.2 %

Shares of NYSE:PEG traded down $0.96 on Friday, hitting $79.94. 2,197,435 shares of the company’s stock were exchanged, compared to its average volume of 2,806,953. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $81.89. The company has a market capitalization of $39.82 billion, a PE ratio of 22.14, a P/E/G ratio of 2.94 and a beta of 0.60. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. The firm’s 50-day moving average is $77.98 and its 200 day moving average is $72.01.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the business earned $0.70 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 annualized dividend and a dividend yield of 3.00%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

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.