MBB Public Markets I LLC Buys New Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

MBB Public Markets I LLC bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 33,473 shares of the utilities provider’s stock, valued at approximately $2,467,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Gilbert & Cook Inc. raised its holdings in shares of 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 valued at $448,000 after purchasing an additional 373 shares during the period. TD Asset Management Inc raised its stake in Public Service Enterprise Group by 16.6% during the 4th quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider’s stock worth $23,047,000 after buying an additional 53,577 shares during the period. Stifel Financial Corp raised its stake in Public Service Enterprise Group by 1.4% during the 4th quarter. Stifel Financial Corp now owns 149,711 shares of the utilities provider’s stock worth $9,155,000 after buying an additional 2,055 shares during the period. TFO Wealth Partners LLC boosted its holdings in Public Service Enterprise Group by 169,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 5,088 shares of the utilities provider’s stock worth $311,000 after acquiring an additional 5,085 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $224,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the 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 completion of the transaction, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,068 shares of company stock worth $2,406,965. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Up 0.9 %

Shares of NYSE:PEG opened at $88.25 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $88.86. The company has a market capitalization of $43.96 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 3.20 and a beta of 0.60. The business has a fifty day moving average price of $81.04 and a two-hundred day moving average price of $74.42. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46.

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

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.72%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PEG. Jefferies Financial Group began 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. Royal Bank of Canada raised their price objective on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Barclays boosted their target price on shares of 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. UBS Group upped their target price on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Finally, Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Monday, June 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.46.

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.