Brophy Wealth Management LLC Makes New $527,000 Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Brophy Wealth Management LLC acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,906 shares of the utilities provider's stock, valued at approximately $527,000.

A number of other institutional investors have also bought and sold shares of PEG. Ashton Thomas Securities LLC purchased a new stake in shares of Public Service Enterprise Group in the third quarter valued at about $35,000. Family Firm Inc. purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $33,000. OFI Invest Asset Management purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $48,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at approximately $59,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PEG shares. UBS Group increased their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Guggenheim reiterated a "buy" rating on shares of Public Service Enterprise Group in a research report on Wednesday. Wells Fargo & Company boosted 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 research note on Wednesday, October 16th. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an "overweight" rating in a research report on Monday, September 23rd. Finally, BMO Capital Markets boosted their target price 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. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.08.

Insider Activity at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the transaction, the executive vice president now directly owns 48,397 shares of the company's stock, valued at $4,385,252.17. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Richard T. Thigpen sold 5,900 shares of the business's stock in a transaction 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 directly owns 25,829 shares of the company's stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,798 shares of company stock valued at $1,595,921 over the last quarter. 0.18% of the stock is owned by insiders.

Public Service Enterprise Group Stock Down 0.9 %

NYSE PEG traded down $0.82 during trading hours on Wednesday, hitting $85.56. 3,585,551 shares of the company were exchanged, compared to its average volume of 2,753,805. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a market cap of $42.63 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 3.30 and a beta of 0.62. The company has a 50 day moving average of $89.54 and a two-hundred day moving average of $82.21. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) 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. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. The business's quarterly revenue was up 7.6% compared to the same quarter last year. Equities research 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.81%. Public Service Enterprise Group's payout ratio is currently 58.97%.

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.