Abner Herrman & Brock LLC Sells 350 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Abner Herrman & Brock LLC lessened its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,650 shares of the utilities provider’s stock after selling 350 shares during the period. Abner Herrman & Brock LLC’s holdings in Public Service Enterprise Group were worth $1,485,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PEG. Heritage Wealth Management Inc. bought a new position in shares of Public Service Enterprise Group in the 2nd quarter worth about $422,000. QRG Capital Management Inc. grew its position in shares of Public Service Enterprise Group by 28.0% during the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock worth $5,227,000 after buying an additional 15,505 shares during the period. CWM LLC increased its stake in shares of Public Service Enterprise Group by 72.3% in the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock valued at $1,532,000 after acquiring an additional 8,723 shares in the last quarter. Czech National Bank lifted its position in shares of Public Service Enterprise Group by 8.3% during the 2nd quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock valued at $6,995,000 after acquiring an additional 7,235 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Public Service Enterprise Group by 145.5% during the 1st quarter. SG Americas Securities LLC now owns 64,437 shares of the utilities provider’s stock valued at $4,303,000 after acquiring an additional 38,188 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

PEG has been the subject of several research analyst reports. Evercore ISI lifted their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday. Jefferies Financial Group started coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 price target on the stock. Scotiabank raised their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Barclays upped their target price on Public Service Enterprise Group from $80.00 to $98.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average target price of $84.62.

Public Service Enterprise Group Stock Down 1.0 %

PEG opened at $90.04 on Thursday. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $92.20. The firm has a market capitalization of $44.85 billion, a P/E ratio of 24.94, a PEG ratio of 3.32 and a beta of 0.61. The company’s 50-day moving average is $83.10 and its 200 day moving average is $75.81. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. Public Service Enterprise Group’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 EPS. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were 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 was Monday, September 9th. Public Service Enterprise Group’s payout ratio is 66.48%.

Insider Buying and Selling

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the transaction, the chief executive officer now directly owns 147,514 shares in the company, valued at $13,305,762.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,446 shares of company stock valued at $2,531,260. 0.57% of the stock is owned by insiders.

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.