Merrion Investment Management Co LLC Buys 500 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Merrion Investment Management Co LLC lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,300 shares of the utilities provider’s stock after acquiring an additional 500 shares during the period. Merrion Investment Management Co LLC’s holdings in Public Service Enterprise Group were worth $1,008,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Family Firm Inc. bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth about $33,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth about $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group during the 1st quarter worth about $36,000. Salomon & Ludwin LLC boosted its stake in shares of Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 560 shares in the last quarter. Finally, Scarborough Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $41,000. Institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 9,563 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the sale, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at $4,610,217.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the sale, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at $13,305,762.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Tamara Louise Linde sold 9,563 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the sale, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at $4,610,217.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,010 shares of company stock valued at $3,397,855. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PEG. Royal Bank of Canada increased their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Morgan Stanley increased their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Scotiabank increased their target price 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. Bank of America increased their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, UBS Group increased their target price on Public Service Enterprise Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average target price of $84.62.

Public Service Enterprise Group Trading Down 1.5 %

Shares of PEG opened at $88.70 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $92.20. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The stock has a 50 day simple moving average of $83.30 and a 200-day simple moving average of $75.91. The stock has a market cap of $44.19 billion, a PE ratio of 26.88, a PEG ratio of 2.72 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company posted $0.70 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.71%. Public Service Enterprise Group’s payout ratio is presently 72.73%.

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.