TD Asset Management Inc. Raises Stake in Public Service Enterprise Group Inc. (NYSE:PEG)

TD Asset Management Inc. boosted its holdings in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 7.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 563,170 shares of the utilities provider’s stock after purchasing an additional 40,490 shares during the period. TD Asset Management Inc. owned approximately 0.11% of Public Service Enterprise Group worth $33,126,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Cornerstone Advisors Inc. grew its position in Public Service Enterprise Group by 15.7% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,256 shares of the utilities provider’s stock worth $74,000 after purchasing an additional 170 shares during the last quarter. Capital Investment Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 2.5% in the second quarter. Capital Investment Advisors LLC now owns 6,860 shares of the utilities provider’s stock valued at $404,000 after acquiring an additional 170 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Public Service Enterprise Group by 6.7% in the second quarter. Bessemer Group Inc. now owns 2,896 shares of the utilities provider’s stock valued at $171,000 after acquiring an additional 182 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Public Service Enterprise Group by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 26,700 shares of the utilities provider’s stock valued at $1,586,000 after acquiring an additional 200 shares in the last quarter. Finally, Brookstone Capital Management boosted its holdings in shares of Public Service Enterprise Group by 1.3% in the first quarter. Brookstone Capital Management now owns 16,211 shares of the utilities provider’s stock valued at $963,000 after acquiring an additional 202 shares in the last quarter. 68.78% of the stock is currently owned by institutional investors.

In other news, VP Daniel J. Cregg sold 625 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $60.92, for a total value of $38,075.00. Following the completion of the transaction, the vice president now owns 60,833 shares of the company’s stock, valued at $3,705,946.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Ralph Izzo sold 52,407 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $58.78, for a total transaction of $3,080,483.46. Following the completion of the transaction, the chairman now directly owns 419,818 shares of the company’s stock, valued at approximately $24,676,902.04. The disclosure for this sale can be found here. In the last three months, insiders sold 163,421 shares of company stock valued at $9,493,650. Company insiders own 0.51% of the company’s stock.

Several analysts have recently weighed in on PEG shares. Morgan Stanley lifted their target price on shares of Public Service Enterprise Group from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, June 14th. KeyCorp started coverage on shares of Public Service Enterprise Group in a report on Tuesday, June 4th. They issued a “sector weight” rating and a $59.40 target price on the stock. ValuEngine downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price on the stock. in a report on Monday, July 29th. Finally, Barclays started coverage on shares of Public Service Enterprise Group in a report on Tuesday. They issued an “overweight” rating and a $63.00 target price on the stock. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $62.46.

Shares of NYSE:PEG traded up $0.42 during trading on Friday, reaching $58.18. The stock had a trading volume of 21,013 shares, compared to its average volume of 2,628,528. The business has a fifty day moving average price of $58.91 and a 200-day moving average price of $58.91. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 0.99. The stock has a market cap of $29.30 billion, a P/E ratio of 18.66, a PEG ratio of 7.84 and a beta of 0.33. Public Service Enterprise Group Inc. has a fifty-two week low of $49.22 and a fifty-two week high of $61.63.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.04). The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.23 billion. Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. During the same period in the prior year, the firm earned $0.64 EPS. As a group, equities analysts forecast that Public Service Enterprise Group Inc. will post 3.24 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Friday, September 6th. Public Service Enterprise Group’s dividend payout ratio is presently 60.26%.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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