Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Toronto Dominion Bank

Toronto Dominion Bank raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 25.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 276,773 shares of the utilities provider’s stock after buying an additional 56,273 shares during the period. Toronto Dominion Bank’s holdings in Public Service Enterprise Group were worth $23,384,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Transce3nd LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter valued at $25,000. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter valued at $25,000. Wingate Wealth Advisors Inc. acquired a new stake in Public Service Enterprise Group during the 4th quarter valued at $35,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group during the 4th quarter valued at $39,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $50,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.8%

Shares of PEG opened at $79.60 on Wednesday. The stock’s fifty day simple moving average is $80.48 and its 200 day simple moving average is $83.81. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a twelve month low of $71.89 and a twelve month high of $95.22. The firm has a market capitalization of $39.72 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting the consensus estimate of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the company posted $1.31 earnings per share. The firm’s revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 68.85%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the transaction, the chief executive officer now directly owns 221,093 shares of the company’s stock, valued at $17,523,831.18. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PEG has been the topic of several analyst reports. BMO Capital Markets decreased their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating on the stock in a report on Thursday, April 10th. Barclays decreased their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective on the stock. in a report on Wednesday, March 19th. Morgan Stanley decreased their price objective on Public Service Enterprise Group from $102.00 to $101.00 and set an “overweight” rating on the stock in a report on Thursday, May 22nd. Finally, Wells Fargo & Company decreased their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.63.

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.