TD Asset Management Inc Cuts Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Key Points

• TD Asset Management Inc reduced its stake in Public Service Enterprise Group by 2.5%, owning 598,355 shares valued at approximately $49.2 million.
• Public Service Enterprise Group's stock price increased by 1.9% to $88.62, with a market capitalization of $44.22 billion.
• The company declared a quarterly dividend of $0.63, translating to an annual yield of 2.84%, with a payout ratio of 68.85%.

TD Asset Management Inc cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 598,355 shares of the utilities provider's stock after selling 15,470 shares during the quarter. TD Asset Management Inc owned 0.12% of Public Service Enterprise Group worth $49,245,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of PEG. Transce3nd LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $25,000. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group in the 4th quarter valued at $25,000. REAP Financial Group LLC increased its position in shares of Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 162 shares during the last quarter. Optiver Holding B.V. bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth $50,000. Finally, Nemes Rush Group LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth $53,000. Institutional investors own 73.34% of the company's stock.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Performance

PEG stock traded down $0.47 during midday trading on Friday, reaching $89.32. 705,906 shares of the company's stock traded hands, compared to its average volume of 2,882,238. The firm has a market capitalization of $44.57 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 3.18 and a beta of 0.48. The company has a 50-day moving average price of $82.59 and a two-hundred day moving average price of $82.23. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting analysts' consensus estimates of $1.43. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. Public Service Enterprise Group's revenue was up 16.7% compared to the same quarter last year. During the same period last year, the business earned $1.31 earnings per share. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm 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 of this dividend is Tuesday, September 9th. This represents a $2.52 annualized dividend and a yield of 2.8%. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 68.85%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Guggenheim reduced their price target on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Evercore ISI dropped their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. UBS Group raised their price target on shares of 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. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Sunday, July 20th. Finally, Barclays reduced their price objective on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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.