Public Service Enterprise Group Inc. (NYSE:PEG) Shares Bought by TD Asset Management Inc.

TD Asset Management Inc. grew its holdings in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 7.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 563,170 shares of the utilities provider’s stock after purchasing an additional 40,490 shares during the period. TD Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $33,126,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PEG. Zions Bancorporation N.A. bought a new position in shares of Public Service Enterprise Group during the first quarter worth about $25,000. Berman Capital Advisors LLC grew its position in shares of Public Service Enterprise Group by 79.0% during the second quarter. Berman Capital Advisors LLC now owns 460 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 203 shares during the last quarter. Thor Advisors LLC bought a new position in shares of Public Service Enterprise Group during the first quarter worth about $45,000. Icon Wealth Partners LLC bought a new position in shares of Public Service Enterprise Group during the first quarter worth about $58,000. Finally, Weaver Consulting Group bought a new position in shares of Public Service Enterprise Group during the first quarter worth about $69,000. 68.78% of the stock is currently owned by institutional investors.

In other news, COO Ralph A. Larossa sold 1,650 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $58.80, for a total transaction of $97,020.00. Following the completion of the transaction, the chief operating officer now owns 85,068 shares in the company, valued at approximately $5,001,998.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Daniel J. Cregg sold 625 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $60.92, for a total transaction of $38,075.00. Following the transaction, the vice president now owns 60,833 shares of the company’s stock, valued at approximately $3,705,946.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 163,421 shares of company stock valued at $9,493,650. Insiders own 0.51% of the company’s stock.

PEG traded up $0.42 on Friday, reaching $58.18. The company had a trading volume of 21,013 shares, compared to its average volume of 2,628,528. The company has a fifty day moving average of $58.91 and a 200-day moving average of $58.91. The company has a market capitalization of $29.30 billion, a P/E ratio of 18.66, a PEG ratio of 7.84 and a beta of 0.33. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 0.99. Public Service Enterprise Group Inc. has a one year low of $49.22 and a one year high of $61.63.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.04). Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the prior year, the company earned $0.64 EPS. Research analysts predict that Public Service Enterprise Group Inc. will post 3.24 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.88 annualized dividend and a dividend yield of 3.23%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.26%.

Several equities analysts have recently commented on the stock. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. ValuEngine lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lowered shares of Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $64.00 to $62.00 in a research report on Tuesday, April 23rd. Bank of America lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a research report on Friday, July 19th. Finally, Barclays initiated coverage on shares of Public Service Enterprise Group in a research report on Tuesday. They issued an “overweight” rating and a $63.00 target price for the company. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Public Service Enterprise Group presently has a consensus rating of “Buy” and a consensus target price of $62.46.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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