Toronto Dominion Bank Sells 124,651 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Toronto Dominion Bank lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 43.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 161,834 shares of the utilities provider’s stock after selling 124,651 shares during the quarter. Toronto Dominion Bank’s holdings in Public Service Enterprise Group were worth $10,807,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $215,074,000. Charles Schwab Investment Management Inc. grew its holdings in Public Service Enterprise Group by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,826,477 shares of the utilities provider’s stock worth $172,839,000 after acquiring an additional 30,469 shares during the last quarter. Cohen & Steers Inc. grew its holdings in Public Service Enterprise Group by 23.6% during the 4th quarter. Cohen & Steers Inc. now owns 2,389,722 shares of the utilities provider’s stock worth $146,132,000 after acquiring an additional 455,693 shares during the last quarter. Franklin Resources Inc. grew its holdings in Public Service Enterprise Group by 12.5% during the 4th quarter. Franklin Resources Inc. now owns 2,331,709 shares of the utilities provider’s stock worth $142,584,000 after acquiring an additional 259,694 shares during the last quarter. Finally, Reaves W H & Co. Inc. grew its holdings in Public Service Enterprise Group by 73.9% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock worth $104,978,000 after acquiring an additional 667,773 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was 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 owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Up 2.4 %

NYSE PEG traded up $1.77 during trading hours on Friday, reaching $76.01. 2,598,594 shares of the company’s stock were exchanged, compared to its average volume of 2,818,069. The company’s 50-day moving average is $74.31 and its two-hundred day moving average is $67.62. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $77.46. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. The company has a market capitalization of $37.86 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 3.00 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 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 business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the prior year, the business earned $1.39 earnings per share. Public Service Enterprise Group’s revenue was down 26.5% compared to the same quarter last year. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared 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. This represents a $2.40 annualized dividend and a yield of 3.16%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is 66.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PEG. Barclays increased their price objective on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Mizuho upped their target price on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Scotiabank cut their target price 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. BMO Capital Markets upped their target price on shares of Public Service Enterprise Group from $69.00 to $74.00 and gave the company a “market perform” rating in a research report on Wednesday, July 3rd. Finally, Royal Bank of Canada upped their target price on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $74.17.

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.