Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by TIAA Trust National Association

TIAA Trust National Association grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 30.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 36,256 shares of the utilities provider’s stock after purchasing an additional 8,495 shares during the quarter. TIAA Trust National Association’s holdings in Public Service Enterprise Group were worth $2,421,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Addison Advisors LLC bought a new position in Public Service Enterprise Group during the 4th quarter worth approximately $31,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group in the first quarter worth $36,000. Salomon & Ludwin LLC raised its holdings in shares of Public Service Enterprise Group by 1,866.7% during the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 560 shares during the period. PFS Partners LLC lifted its position in shares of Public Service Enterprise Group by 90.9% in the 1st quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock worth $42,000 after buying an additional 300 shares during the last quarter. Finally, YHB Investment Advisors Inc. acquired a new position in shares of Public Service Enterprise Group in the 1st quarter valued at about $45,000. Institutional investors own 73.34% of the company’s stock.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the sale, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock traded up $1.15 during mid-day trading on Monday, hitting $75.79. 622,784 shares of the company were exchanged, compared to its average volume of 2,815,123. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $77.46. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. The business has a fifty day moving average of $74.16 and a 200 day moving average of $67.22. The company has a market capitalization of $37.75 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 2.95 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the company earned $1.39 EPS. The firm’s quarterly revenue was down 26.5% on a year-over-year basis. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 3.17%. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PEG shares. Royal Bank of Canada upped their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Scotiabank dropped their price target on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Barclays lifted their target price on Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Evercore ISI lifted their price target on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Guggenheim raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Monday, June 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.17.

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.