Brooklyn Investment Group Buys Shares of 2,358 Public Service Enterprise Group Incorporated (NYSE:PEG)

27 Nov 2024, 09:03 by Jessica Moore · The Cerbat Gem

Brooklyn Investment Group purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 2,358 shares of the utilities provider’s stock, valued at approximately $210,000.

Other large investors also recently made changes to their positions in the company. Family Firm Inc. acquired a new position in Public Service Enterprise Group in the second quarter valued at $33,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $35,000. Ashton Thomas Securities LLC acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at about $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth about $48,000. Finally, Country Trust Bank purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth about $52,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 1.6 %

NYSE PEG opened at $94.51 on Wednesday. The company’s fifty day simple moving average is $88.74 and its 200-day simple moving average is $81.01. The stock has a market cap of $47.09 billion, a P/E ratio of 23.22, a PEG ratio of 3.41 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $94.67. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG – Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 EPS. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 58.97%.

Analyst Upgrades and Downgrades

PEG has been the subject of several research analyst reports. Evercore ISI upped their price target on shares of 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. Scotiabank lifted their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Morgan Stanley upped their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. UBS Group lifted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $86.69.

Get Our Latest Stock Report on PEG

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the sale, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at $2,271,660.55. The trade was a 18.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the transaction, the executive vice president now directly owns 57,961 shares in the company, valued at approximately $4,610,217.94. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,739 shares of company stock valued at $2,467,753. 0.18% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Profile

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