Brown Lisle Cummings Inc. Takes Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Brown Lisle Cummings Inc. bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 674 shares of the utilities provider’s stock, valued at approximately $57,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PEG. Czech National Bank boosted its stake in shares of Public Service Enterprise Group by 6.9% in the third quarter. Czech National Bank now owns 101,480 shares of the utilities provider’s stock valued at $9,053,000 after purchasing an additional 6,567 shares during the period. GAMMA Investing LLC boosted its position in Public Service Enterprise Group by 24.2% in the 3rd quarter. GAMMA Investing LLC now owns 5,971 shares of the utilities provider’s stock valued at $533,000 after buying an additional 1,162 shares during the period. Diversified Trust Co grew its stake in shares of Public Service Enterprise Group by 220.6% in the third quarter. Diversified Trust Co now owns 25,437 shares of the utilities provider’s stock worth $2,269,000 after acquiring an additional 17,503 shares in the last quarter. Dynamic Advisor Solutions LLC increased its position in shares of Public Service Enterprise Group by 759.8% during the third quarter. Dynamic Advisor Solutions LLC now owns 44,273 shares of the utilities provider’s stock worth $3,950,000 after acquiring an additional 39,124 shares during the period. Finally, Marion Wealth Management acquired a new stake in shares of Public Service Enterprise Group in the third quarter valued at $241,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the transaction, the senior vice president now directly owns 25,829 shares in the company, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,612 shares of company stock worth $836,549. 0.18% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Down 0.1 %

Public Service Enterprise Group stock opened at $83.43 on Wednesday. The stock has a 50-day simple moving average of $86.78 and a 200-day simple moving average of $85.31. The company has a market capitalization of $41.56 billion, a P/E ratio of 20.50, a PEG ratio of 2.67 and a beta of 0.64. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a fifty-two week low of $57.24 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued 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 return on equity of 10.70% and a net margin of 19.48%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 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 Tuesday, December 31st. Investors of record on Tuesday, December 10th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Analysts Set New Price Targets

PEG has been the topic of several recent research reports. Evercore ISI upped their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. UBS Group upped their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their target price 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. BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report 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 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.83.

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.