Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,298,849 shares of the utilities provider’s stock after selling 76,538 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.26% of Public Service Enterprise Group worth $86,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC purchased a new position in Public Service Enterprise Group during the 3rd quarter worth approximately $2,030,000. Lido Advisors LLC increased its stake in Public Service Enterprise Group by 4.1% in the third quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 183 shares during the period. Schroder Investment Management Group raised its holdings in shares of Public Service Enterprise Group by 22.4% in the third quarter. Schroder Investment Management Group now owns 100,803 shares of the utilities provider’s stock valued at $5,737,000 after buying an additional 18,417 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Public Service Enterprise Group by 72.7% during the third quarter. Royal Bank of Canada now owns 963,679 shares of the utilities provider’s stock worth $54,845,000 after buying an additional 405,533 shares during the period. Finally, Crestwood Advisors Group LLC purchased a new position in shares of Public Service Enterprise Group during the third quarter worth about $211,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.6 %

Shares of Public Service Enterprise Group stock opened at $73.99 on Friday. The company has a 50-day moving average of $73.11 and a two-hundred day moving average of $66.01. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $75.82. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19. The stock has a market cap of $36.85 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 3.07 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The business’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.39 earnings per share. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.24%. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

Analyst Upgrades and Downgrades

Several analysts have commented on PEG shares. Guggenheim raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Monday, June 17th. Evercore ISI increased their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Mizuho boosted their price objective on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Morgan Stanley cut their price objective on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Finally, Barclays lifted their target price on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $72.42.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the transaction, the chief executive officer now owns 150,973 shares in the company, valued at $10,500,172.15. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Public Service Enterprise Group 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.