Public Service Enterprise Group Incorporated (NYSE:PEG) Holdings Raised by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,423 shares of the utilities provider’s stock after purchasing an additional 226 shares during the period. Brown Brothers Harriman & Co.’s holdings in Public Service Enterprise Group were worth $662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Public Service Enterprise Group by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider’s stock valued at $263,315,000 after purchasing an additional 19,650 shares during the last quarter. Raymond James & Associates boosted its position in Public Service Enterprise Group by 30.1% during the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock valued at $255,954,000 after purchasing an additional 663,012 shares during the period. Hamlin Capital Management LLC grew its stake in Public Service Enterprise Group by 7.2% during the 3rd quarter. Hamlin Capital Management LLC now owns 2,427,336 shares of the utilities provider’s stock worth $216,543,000 after buying an additional 162,731 shares during the last quarter. Hsbc Holdings PLC increased its position in Public Service Enterprise Group by 43.2% in the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after buying an additional 732,443 shares during the period. Finally, abrdn plc lifted its stake in Public Service Enterprise Group by 10.2% in the third quarter. abrdn plc now owns 1,792,186 shares of the utilities provider’s stock valued at $159,074,000 after buying an additional 165,995 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 1.6 %

Shares of PEG stock opened at $94.51 on Wednesday. The stock has a 50-day simple moving average of $88.74 and a 200 day simple moving average of $81.01. The stock has a market capitalization of $47.09 billion, a P/E ratio of 23.22, a P/E/G ratio of 3.41 and a beta of 0.61. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $94.67. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating 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 analyst estimates of $2.44 billion. During the same quarter last year, the firm posted $0.85 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.54%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Insider Activity

In other 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 value 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 transaction was disclosed in a legal filing with the SEC, which is available at 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 shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now owns 70,011 shares in the company, valued at $6,307,290.99. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,739 shares of company stock worth $2,467,753. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PEG. Wells Fargo & Company upped their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Barclays dropped 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. Bank of America boosted their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. UBS Group raised their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley boosted their price target on 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. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $86.69.

Public Service Enterprise Group Company 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.