Oak Thistle LLC Invests $854,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Oak Thistle LLC purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,106 shares of the utilities provider's stock, valued at approximately $854,000.

A number of other institutional investors have also added to or reduced their stakes in PEG. Thoroughbred Financial Services LLC bought a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at approximately $207,000. Envestnet Asset Management Inc. grew its stake in shares of Public Service Enterprise Group by 3.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 993,262 shares of the utilities provider's stock worth $73,203,000 after buying an additional 36,589 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter worth $523,000. Brown Brothers Harriman & Co. increased its holdings in shares of Public Service Enterprise Group by 528.0% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 7,197 shares of the utilities provider's stock worth $530,000 after buying an additional 6,051 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Public Service Enterprise Group by 10.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,734,257 shares of the utilities provider's stock valued at $127,809,000 after buying an additional 163,333 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 transaction, the senior vice president now directly owns 25,829 shares of the company's stock, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Kim C. Hanemann sold 956 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 70,011 shares of the company's stock, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,234 shares of company stock worth $722,037. Company insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PEG. Barclays reduced their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley increased their price target 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. Wells Fargo & Company lifted their price objective on shares of 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. Scotiabank increased their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a "sector perform" rating in a research note on Thursday, December 12th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.17.

Public Service Enterprise Group Trading Up 2.5 %

Public Service Enterprise Group stock traded up $2.14 during trading hours on Thursday, hitting $88.41. The company had a trading volume of 1,795,880 shares, compared to its average volume of 1,853,998. The firm has a market cap of $44.05 billion, a P/E ratio of 21.72, a P/E/G ratio of 2.81 and a beta of 0.65. The company has a 50-day moving average price of $87.57 and a two-hundred day moving average price of $84.23. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $95.22. 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 (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group's quarterly revenue 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. On average, sell-side 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 declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group's payout ratio is 58.97%.

About Public Service Enterprise Group

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.