Brookstone Capital Management Has $440,000 Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Brookstone Capital Management cut its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 28.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,594 shares of the utilities provider’s stock after selling 2,575 shares during the quarter. Brookstone Capital Management’s holdings in Public Service Enterprise Group were worth $440,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Modera Wealth Management LLC lifted its holdings in shares of Public Service Enterprise Group by 2.6% in the 3rd quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 170 shares in the last quarter. Strategic Investment Advisors MI grew its holdings in shares of Public Service Enterprise Group by 1.0% during the fourth quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock valued at $1,071,000 after buying an additional 179 shares during the last quarter. Lido Advisors LLC increased its position in shares of Public Service Enterprise Group by 4.1% during the third quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock worth $263,000 after acquiring an additional 183 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Public Service Enterprise Group by 2.3% in the 4th quarter. Signaturefd LLC now owns 8,495 shares of the utilities provider’s stock worth $519,000 after acquiring an additional 187 shares during the last quarter. Finally, Spire Wealth Management lifted its position in Public Service Enterprise Group by 3.6% in the 4th quarter. Spire Wealth Management now owns 5,479 shares of the utilities provider’s stock valued at $321,000 after acquiring an additional 189 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Down 0.1 %

Public Service Enterprise Group stock opened at $73.63 on Tuesday. The firm has a market capitalization of $36.67 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 3.06 and a beta of 0.59. The firm has a 50 day simple moving average of $72.69 and a 200 day simple moving average of $65.80. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $75.82. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the company earned $1.39 earnings per share. The company’s quarterly revenue was down 26.5% on a year-over-year basis. On average, analysts predict that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.26%. Public Service Enterprise Group’s payout ratio is currently 66.48%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PEG shares. Wells Fargo & Company raised their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Scotiabank reduced their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Monday, June 17th. Morgan Stanley reduced their price objective on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Finally, Bank of America lifted their target price on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $71.50.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the sale, the chief executive officer now owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by 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.