Mitsubishi UFJ Trust & Banking Corp Sells 199,152 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Key Points

• Mitsubishi UFJ Trust & Banking Corp has reduced its stake in Public Service Enterprise Group by 9.9%, selling 199,152 shares and retaining 1,804,948 shares valued at approximately $148.5 million.
• Public Service Enterprise Group recently declared a quarterly dividend of $0.63, which will be paid on September 30th, representing an annualized dividend yield of 2.8%.
• Analysts have mixed opinions on the stock, with a consensus rating of "Hold" and an average price target of $90.50, while some firms have adjusted their price targets both up and down.

Mitsubishi UFJ Trust & Banking Corp cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 9.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,804,948 shares of the utilities provider's stock after selling 199,152 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.36% of Public Service Enterprise Group worth $148,547,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PEG. Centre Asset Management LLC increased its position in Public Service Enterprise Group by 3.2% during the first quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock worth $324,000 after buying an additional 121 shares during the last quarter. FourThought Financial Partners LLC boosted its position in shares of Public Service Enterprise Group by 2.8% during the 1st quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider's stock worth $378,000 after acquiring an additional 127 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Public Service Enterprise Group by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider's stock worth $3,523,000 after buying an additional 130 shares during the last quarter. Apella Capital LLC increased its holdings in shares of Public Service Enterprise Group by 2.7% during the first quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider's stock worth $443,000 after buying an additional 144 shares in the last quarter. Finally, Net Worth Advisory Group lifted its holdings in Public Service Enterprise Group by 5.6% during the 1st quarter. Net Worth Advisory Group now owns 2,809 shares of the utilities provider's stock worth $231,000 after buying an additional 148 shares during the period. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Performance

Shares of PEG stock traded up $1.26 during trading hours on Monday, reaching $90.23. The company had a trading volume of 2,475,718 shares, compared to its average volume of 2,407,687. The firm has a market cap of $45.03 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 3.19 and a beta of 0.45. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. The business has a fifty day moving average price of $82.79 and a 200-day moving average price of $82.19. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.8%. Public Service Enterprise Group's payout ratio is 68.85%.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the transaction, the chief executive officer directly owned 218,328 shares in the company, valued at $18,147,423.36. This represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PEG. Guggenheim cut their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. Barclays cut their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. UBS Group lifted their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Evercore ISI dropped their price target on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of "Hold" and an average price target of $90.50.

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.