Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by Abner Herrman & Brock LLC

Abner Herrman & Brock LLC increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,816 shares of the utilities provider’s stock after purchasing an additional 166 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Public Service Enterprise Group were worth $1,421,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PEG. Ashton Thomas Securities LLC acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at $35,000. Northwest Investment Counselors LLC purchased a new stake in shares of Public Service Enterprise Group in the third quarter valued at $48,000. Legacy Investment Solutions LLC acquired a new position in Public Service Enterprise Group during the third quarter valued at $59,000. Fortitude Family Office LLC boosted its position in Public Service Enterprise Group by 325.0% during the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock worth $71,000 after acquiring an additional 611 shares during the period. Finally, Salem Investment Counselors Inc. increased its holdings in shares of Public Service Enterprise Group by 67.5% in the 4th quarter. Salem Investment Counselors Inc. now owns 1,119 shares of the utilities provider’s stock valued at $95,000 after purchasing an additional 451 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PEG shares. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Wells Fargo & Company raised their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. BMO Capital Markets boosted their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Finally, Scotiabank raised their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $88.83.

Insider Buying and Selling at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the sale, the senior vice president now owns 25,829 shares in the company, valued at $2,271,660.55. The trade was a 18.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction on Tuesday, November 19th. The stock was 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 of the company’s stock, valued at $6,307,290.99. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,234 shares of company stock worth $722,037 over the last three months. Company insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $83.57 on Monday. 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 one year low of $57.24 and a one year high of $95.22. The company has a fifty day moving average price of $86.97 and a 200 day moving average price of $85.17. The stock has a market cap of $41.64 billion, a P/E ratio of 20.53, a PEG ratio of 2.67 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 EPS. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.87%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Public Service Enterprise Group Company 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.