Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by BROOKFIELD Corp ON

BROOKFIELD Corp ON increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 432,270 shares of the utilities provider's stock after purchasing an additional 16,511 shares during the quarter. BROOKFIELD Corp ON owned approximately 0.09% of Public Service Enterprise Group worth $36,522,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Transce3nd LLC purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group during the fourth quarter worth approximately $25,000. Wingate Wealth Advisors Inc. purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $35,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $39,000. Finally, Optiver Holding B.V. purchased a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $50,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PEG shares. Bank of America decreased their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Guggenheim lowered their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Barclays dropped their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company decreased their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price on the stock. in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $88.81.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded down $0.56 during midday trading on Friday, hitting $78.92. The company had a trading volume of 1,793,046 shares, compared to its average volume of 2,712,986. The firm has a market capitalization of $39.38 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a twelve month low of $71.89 and a twelve month high of $95.22. The business has a 50-day simple moving average of $81.02 and a two-hundred day simple moving average of $84.62. 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.43. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company's revenue for the quarter was up 16.7% on a year-over-year basis. During the same period last year, the firm earned $1.31 EPS. 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 declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 68.85%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the transaction, the chief executive officer now owns 221,093 shares in the company, valued at approximately $17,523,831.18. This trade represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.19% of the company's stock.

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.