Stonebrook Private Inc. Grows Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Stonebrook Private Inc. increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,515 shares of the utilities provider’s stock after buying an additional 178 shares during the period. Stonebrook Private Inc.’s holdings in Public Service Enterprise Group were worth $1,277,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its stake in Public Service Enterprise Group by 6.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider’s stock worth $3,922,000 after buying an additional 2,803 shares during the period. Sowell Financial Services LLC purchased a new stake in Public Service Enterprise Group during the 1st quarter worth approximately $298,000. Wealth Enhancement Advisory Services LLC increased its stake in Public Service Enterprise Group by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider’s stock worth $7,417,000 after buying an additional 3,601 shares during the period. Exchange Traded Concepts LLC increased its stake in Public Service Enterprise Group by 12.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider’s stock worth $327,000 after buying an additional 447 shares during the period. Finally, Vontobel Holding Ltd. purchased a new stake in Public Service Enterprise Group during the 1st quarter worth approximately $329,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the sale, the chief executive officer owned 218,328 shares in the company, valued at $18,147,423.36. This represents a 0.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on PEG. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target for the company. in a report on Wednesday, March 19th. Barclays lowered their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Morgan Stanley lowered their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, June 18th. Evercore ISI lowered their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Finally, UBS Group upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $97.00 in a report on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Hold” and a consensus price target of $89.46.

Public Service Enterprise Group Trading Down 0.0%

Shares of Public Service Enterprise Group stock opened at $81.58 on Thursday. The company has a fifty day simple moving average of $80.49 and a 200-day simple moving average of $82.21. Public Service Enterprise Group Incorporated has a 12-month low of $73.72 and a 12-month high of $95.22. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25. The stock has a market cap of $40.71 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 2.92 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.43. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. Public Service Enterprise Group’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.31 EPS. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio is currently 68.85%.

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.