O Brien Greene & Co. Inc Purchases Shares of 2,450 Public Service Enterprise Group Incorporated (NYSE:PEG)

O Brien Greene & Co. Inc acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,450 shares of the utilities provider’s stock, valued at approximately $219,000.

Several other institutional investors have also recently modified their holdings of the stock. Raab & Moskowitz Asset Management LLC grew its holdings in Public Service Enterprise Group by 3.3% during the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 22,205 shares of the utilities provider’s stock valued at $1,981,000 after buying an additional 718 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Public Service Enterprise Group in the third quarter valued at $59,000. Orion Portfolio Solutions LLC boosted its stake in shares of Public Service Enterprise Group by 1.7% during the third quarter. Orion Portfolio Solutions LLC now owns 27,935 shares of the utilities provider’s stock valued at $2,492,000 after acquiring an additional 480 shares during the last quarter. Zacks Investment Management increased its position in Public Service Enterprise Group by 11.0% during the 3rd quarter. Zacks Investment Management now owns 751,655 shares of the utilities provider’s stock worth $67,055,000 after purchasing an additional 74,517 shares in the last quarter. Finally, Zimmer Partners LP raised its stake in Public Service Enterprise Group by 11.3% in the 3rd quarter. Zimmer Partners LP now owns 278,000 shares of the utilities provider’s stock valued at $24,800,000 after purchasing an additional 28,280 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Down 1.7 %

Shares of NYSE:PEG opened at $90.00 on Monday. The stock has a 50-day simple moving average of $89.65 and a 200-day simple moving average of $82.03. The stock has a market capitalization of $44.84 billion, a P/E ratio of 22.11, a PEG ratio of 3.30 and a beta of 0.62. 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) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. Public Service Enterprise Group’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

Insider Transactions at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the transaction, the chief executive officer now owns 147,514 shares in the company, valued at approximately $13,305,762.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,798 shares of company stock valued at $1,595,921 over the last quarter. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PEG shares. Barclays decreased their price target on shares of 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. UBS Group lifted 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. Morgan Stanley boosted 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. BMO Capital Markets raised their price objective on 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, Evercore ISI upped their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.08.

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.