DRW Securities LLC Acquires Shares of 92,413 Public Service Enterprise Group Incorporated (NYSE:PEG)

DRW Securities LLC acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 3rd quarter, HoldingsChannel reports. The firm acquired 92,413 shares of the utilities provider’s stock, valued at approximately $8,244,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter worth approximately $268,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Public Service Enterprise Group by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 678,836 shares of the utilities provider’s stock worth $45,333,000 after acquiring an additional 4,941 shares during the period. Bayesian Capital Management LP grew its holdings in shares of Public Service Enterprise Group by 20.4% in the 1st quarter. Bayesian Capital Management LP now owns 11,804 shares of the utilities provider’s stock worth $788,000 after acquiring an additional 2,000 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in shares of Public Service Enterprise Group by 7.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 36,490 shares of the utilities provider’s stock worth $2,437,000 after acquiring an additional 2,522 shares during the period. Finally, Levin Capital Strategies L.P. acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter worth approximately $334,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

PEG opened at $92.40 on Monday. The company has a market capitalization of $46.04 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 3.39 and a beta of 0.61. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $93.00. The business has a 50 day moving average price of $88.38 and a two-hundred day moving average price of $80.73.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 earnings per share. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.60%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The trade was a 0.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,739 shares of company stock valued at $2,467,753. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PEG. Evercore ISI raised their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. UBS Group raised their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Finally, Scotiabank raised 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. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.69.

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.