Whittier Trust Co. Acquires 218 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Whittier Trust Co. grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,303 shares of the utilities provider’s stock after purchasing an additional 218 shares during the quarter. Whittier Trust Co.’s holdings in Public Service Enterprise Group were worth $317,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PEG. International Assets Investment Management LLC raised its holdings in shares of Public Service Enterprise Group by 5,613.8% in the 4th quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock valued at $10,545,000 after purchasing an additional 169,425 shares in the last quarter. Atria Wealth Solutions Inc. raised its stake in shares of Public Service Enterprise Group by 21.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 17,393 shares of the utilities provider’s stock worth $1,064,000 after acquiring an additional 3,072 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Public Service Enterprise Group by 9.3% during the 4th quarter. Russell Investments Group Ltd. now owns 240,096 shares of the utilities provider’s stock worth $14,681,000 after acquiring an additional 20,434 shares in the last quarter. Gilbert & Cook Inc. raised its stake in shares of Public Service Enterprise Group by 5.4% during the 4th quarter. Gilbert & Cook Inc. now owns 7,327 shares of the utilities provider’s stock worth $448,000 after acquiring an additional 373 shares in the last quarter. Finally, Choreo LLC raised its stake in shares of Public Service Enterprise Group by 262.1% during the 4th quarter. Choreo LLC now owns 14,666 shares of the utilities provider’s stock worth $897,000 after acquiring an additional 10,616 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded up $0.13 during trading on Thursday, hitting $80.65. The company had a trading volume of 513,102 shares, compared to its average volume of 2,790,072. The stock has a fifty day simple moving average of $76.85 and a two-hundred day simple moving average of $70.99. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $81.89. The firm has a market capitalization of $40.17 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share. On average, research 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 announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PEG shares. Royal Bank of Canada boosted their price objective on shares of 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. BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $78.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Mizuho upped their price target on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $77.33.

Insider Buying and Selling at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is currently owned by company insiders.

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.