Toronto Dominion Bank Increases Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Toronto Dominion Bank raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 25.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 276,773 shares of the utilities provider's stock after acquiring an additional 56,273 shares during the period. Toronto Dominion Bank owned approximately 0.06% of Public Service Enterprise Group worth $23,384,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PEG. Norges Bank bought a new stake in Public Service Enterprise Group in the 4th quarter valued at $445,005,000. Raymond James Financial Inc. bought a new stake in Public Service Enterprise Group in the 4th quarter valued at $376,209,000. Jennison Associates LLC increased its holdings in Public Service Enterprise Group by 125.3% in the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock valued at $285,982,000 after acquiring an additional 1,882,667 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Public Service Enterprise Group by 604.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider's stock valued at $169,404,000 after acquiring an additional 1,719,614 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in Public Service Enterprise Group by 234.1% in the 4th quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider's stock valued at $178,900,000 after acquiring an additional 1,483,662 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. BMO Capital Markets reduced their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a report on Thursday, April 10th. Barclays reduced their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company reduced their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Wall Street Zen downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. Finally, Bank of America reduced their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $89.63.

Public Service Enterprise Group Trading Up 1.8%

Shares of PEG stock traded up $1.43 during trading hours on Friday, reaching $80.98. 12,247,488 shares of the stock were exchanged, compared to its average volume of 2,790,131. Public Service Enterprise Group Incorporated has a 12-month low of $71.89 and a 12-month high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The company's 50-day moving average price is $80.31 and its 200-day moving average price is $83.71. The firm has a market capitalization of $40.41 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting analysts' consensus estimates of $1.43. The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.31 EPS. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.11%. Public Service Enterprise Group's dividend payout ratio (DPR) is 68.85%.

Insider Buying and Selling 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 dated Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the sale, the chief executive officer now directly owns 221,093 shares of the company's stock, valued at $17,523,831.18. The trade was a 0.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

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.