TD Private Client Wealth LLC Trims Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

TD Private Client Wealth LLC trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 66.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,107 shares of the utilities provider’s stock after selling 4,213 shares during the period. TD Private Client Wealth LLC’s holdings in Public Service Enterprise Group were worth $188,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEG. Sound Shore Management Inc. CT purchased a new position in Public Service Enterprise Group in the 2nd quarter valued at about $71,298,000. FMR LLC lifted its holdings in shares of Public Service Enterprise Group by 19.4% during the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock worth $481,825,000 after acquiring an additional 877,345 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Public Service Enterprise Group by 43.2% during the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after acquiring an additional 732,443 shares during the period. Jennison Associates LLC lifted its holdings in shares of Public Service Enterprise Group by 79.5% during the 3rd quarter. Jennison Associates LLC now owns 1,502,136 shares of the utilities provider’s stock worth $134,006,000 after acquiring an additional 665,105 shares during the period. Finally, Raymond James & Associates lifted its holdings in shares of Public Service Enterprise Group by 30.1% during the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock worth $255,954,000 after acquiring an additional 663,012 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEG has been the topic of several recent analyst reports. UBS Group increased their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Wells Fargo & Company increased their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Barclays dropped their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average target price of $89.17.

Public Service Enterprise Group Stock Up 1.0 %

Shares of NYSE:PEG opened at $86.81 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $95.22. The company has a 50 day moving average of $89.21 and a two-hundred day moving average of $82.46. The company has a market capitalization of $43.25 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 3.18 and a beta of 0.62.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the company earned $0.85 earnings per share. Public Service Enterprise Group’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 58.97%.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the transaction, the chief executive officer now directly owns 147,514 shares in the company, valued at approximately $13,305,762.80. This represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,385,252.17. This trade represents a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,798 shares of company stock worth $1,595,921. 0.57% of the stock is currently owned by insiders.

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.