Toronto Dominion Bank decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 14.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 220,500 shares of the utilities provider's stock after selling 35,777 shares during the period. Toronto Dominion Bank's holdings in Public Service Enterprise Group were worth $19,671,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Family Firm Inc. acquired a new stake in shares of Public Service Enterprise Group in the second quarter worth approximately $33,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group in the second quarter valued at approximately $35,000. Ashton Thomas Securities LLC acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $35,000. Northwest Investment Counselors LLC purchased a new stake in shares of Public Service Enterprise Group in the third quarter worth about $48,000. Finally, Rothschild Investment LLC purchased a new position in Public Service Enterprise Group in the 2nd quarter worth approximately $58,000. Institutional investors and hedge funds own 73.34% of the company's stock.
Public Service Enterprise Group Price Performance
Shares of PEG stock traded up $0.86 during mid-day trading on Friday, hitting $86.81. 1,838,097 shares of the stock traded hands, compared to its average volume of 2,749,773. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The firm has a market cap of $43.25 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 3.14 and a beta of 0.62. The company's 50-day simple moving average is $89.32 and its 200-day simple moving average is $82.26. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $95.22.
Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.
Public Service Enterprise Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.76%. Public Service Enterprise Group's dividend payout ratio is currently 58.97%.
Insider Transactions at Public Service Enterprise Group
In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the transaction, the executive vice president now owns 48,397 shares in the company, valued at $4,385,252.17. This represents a 16.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,798 shares of company stock valued at $1,595,921 in the last three months. 0.57% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of equities analysts have weighed in on PEG shares. Morgan Stanley upped their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an "overweight" rating in a research report on Monday, September 23rd. UBS Group upped their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Barclays decreased their price objective on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Evercore ISI lifted their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 8th. Finally, Bank of America lifted their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a "buy" rating in a report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of "Moderate Buy" and a consensus target price of $89.17.
Check Out Our Latest Stock Analysis on PEG
Public Service Enterprise Group Company Profile
(
Free Report)
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.
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