Tompkins Financial Corp Has $10.62 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Tompkins Financial Corp reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,710 shares of the utilities provider’s stock after selling 1,622 shares during the period. Tompkins Financial Corp’s holdings in Public Service Enterprise Group were worth $10,621,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PEG. Heritage Wealth Management Inc. bought a new position in shares of Public Service Enterprise Group in the second quarter valued at $422,000. DRW Securities LLC acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth about $8,244,000. Arvest Bank Trust Division bought a new position in Public Service Enterprise Group in the 3rd quarter valued at about $2,860,000. Cerity Partners LLC boosted its stake in Public Service Enterprise Group by 36.1% during the 3rd quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock valued at $8,575,000 after purchasing an additional 25,503 shares during the last quarter. Finally, Cullen Investment Group LTD. increased its holdings in Public Service Enterprise Group by 65.3% during the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after purchasing an additional 10,610 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Morgan Stanley raised their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Wells Fargo & Company lifted 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. BMO Capital Markets increased their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Barclays cut their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Scotiabank increased their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.17.

Public Service Enterprise Group Trading Up 2.5 %

NYSE:PEG opened at $88.41 on Friday. The firm’s 50 day moving average is $87.57 and its 200 day moving average is $84.23. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $95.22. The stock has a market capitalization of $44.05 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 2.81 and a beta of 0.65. 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 (NYSE:PEG) last issued its earnings results 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. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. Sell-side 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.71%. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the sale, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. The trade was a 0.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,234 shares of company stock worth $722,037 over the last quarter. Corporate insiders own 0.18% of the company’s stock.

About Public Service Enterprise Group

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.