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

Stonebrook Private Inc. boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 77.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,110 shares of the utilities provider’s stock after acquiring an additional 5,713 shares during the quarter. Stonebrook Private Inc.’s holdings in Public Service Enterprise Group were worth $1,170,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on PEG shares. Scotiabank lifted their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Bank of America boosted their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Evercore ISI raised their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company raised 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 equities research analysts have rated the stock with 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, the stock has an average rating of “Moderate Buy” and an average price target of $86.69.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $92.39 on Friday. The firm has a market capitalization of $46.03 billion, a PE ratio of 22.70, a PEG ratio of 3.39 and a beta of 0.61. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $93.00. The firm’s fifty day simple moving average is $88.38 and its 200 day simple moving average is $80.61.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly 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. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the business posted $0.85 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued 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 dividend yield of 2.60%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Insider Activity

In related news, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Tamara Louise Linde sold 9,564 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This trade represents a 16.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,739 shares of company stock valued at $2,467,753. 0.57% of the stock is owned by company insiders.

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.