TIAA Trust National Association Has $2.69 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

TIAA Trust National Association reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.2% during the 4th quarter, Holdings Channel reports. The fund owned 31,829 shares of the utilities provider’s stock after selling 386 shares during the period. TIAA Trust National Association’s holdings in Public Service Enterprise Group were worth $2,689,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in shares of Public Service Enterprise Group by 16.2% during the third quarter. Advisors Asset Management Inc. now owns 10,433 shares of the utilities provider’s stock worth $931,000 after purchasing an additional 1,453 shares during the period. Cerity Partners LLC increased its position in Public Service Enterprise Group by 36.1% during the 3rd quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock worth $8,575,000 after buying an additional 25,503 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Public Service Enterprise Group by 12.3% during the third quarter. Daiwa Securities Group Inc. now owns 60,864 shares of the utilities provider’s stock worth $5,430,000 after buying an additional 6,651 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Public Service Enterprise Group by 4.0% in the third quarter. Fisher Asset Management LLC now owns 7,342 shares of the utilities provider’s stock valued at $655,000 after acquiring an additional 283 shares during the period. Finally, Harvest Fund Management Co. Ltd grew its stake in shares of Public Service Enterprise Group by 307.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 4,674 shares of the utilities provider’s stock valued at $417,000 after acquiring an additional 3,526 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Up 0.1 %

PEG stock opened at $81.48 on Thursday. The firm has a 50-day moving average price of $83.31 and a 200-day moving average price of $86.09. Public Service Enterprise Group Incorporated has a 12 month low of $64.03 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 stock has a market capitalization of $40.62 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 EPS. As a group, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.63 per share. The ex-dividend date is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.09%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is currently 71.19%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the transaction, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PEG shares. BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Scotiabank boosted their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Guggenheim restated a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Bank of America cut their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Finally, Wells Fargo & Company decreased their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.65.

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.