Toronto Dominion Bank Sells 124,651 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Toronto Dominion Bank cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 43.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 161,834 shares of the utilities provider’s stock after selling 124,651 shares during the period. Toronto Dominion Bank’s holdings in Public Service Enterprise Group were worth $10,807,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Addison Advisors LLC purchased a new position in Public Service Enterprise Group in the 4th quarter valued at approximately $31,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group during the first quarter valued at approximately $36,000. Salomon & Ludwin LLC raised its position in Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 560 shares during the period. PFS Partners LLC grew its stake in Public Service Enterprise Group by 90.9% during the first quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 300 shares in the last quarter. Finally, YHB Investment Advisors Inc. purchased a new position in shares of Public Service Enterprise Group in the 1st quarter worth $45,000. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total value of $95,561.70. Following the completion of the sale, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of PEG stock traded up $1.77 during trading hours on Friday, hitting $76.01. 2,598,594 shares of the company’s stock were exchanged, compared to its average volume of 2,818,069. The stock’s 50-day moving average is $74.31 and its 200-day moving average is $67.62. The stock has a market cap of $37.86 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $77.46. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62.

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

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a yield of 3.16%. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PEG shares. Morgan Stanley lowered 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. Bank of America increased their price target on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Scotiabank decreased their price objective on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Barclays raised their price objective on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Finally, Guggenheim upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Monday, June 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $74.17.

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.