Tiaa Fsb Boosts Position in Public Service Enterprise Group Inc. (PEG)

Tiaa Fsb increased its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 19.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 43,317 shares of the utilities provider’s stock after buying an additional 6,932 shares during the quarter. Tiaa Fsb’s holdings in Public Service Enterprise Group were worth $2,573,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rench Wealth Management Inc. raised its position in Public Service Enterprise Group by 0.4% during the fourth quarter. Rench Wealth Management Inc. now owns 47,960 shares of the utilities provider’s stock valued at $2,496,000 after acquiring an additional 182 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Public Service Enterprise Group by 2.7% in the fourth quarter. Cetera Investment Advisers now owns 7,593 shares of the utilities provider’s stock valued at $394,000 after purchasing an additional 200 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Public Service Enterprise Group by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 26,700 shares of the utilities provider’s stock valued at $1,586,000 after purchasing an additional 200 shares during the period. Parallel Advisors LLC raised its position in shares of Public Service Enterprise Group by 7.7% in the fourth quarter. Parallel Advisors LLC now owns 3,207 shares of the utilities provider’s stock valued at $166,000 after purchasing an additional 228 shares during the period. Finally, Copperwynd Financial LLC raised its position in shares of Public Service Enterprise Group by 3.7% in the fourth quarter. Copperwynd Financial LLC now owns 6,641 shares of the utilities provider’s stock valued at $346,000 after purchasing an additional 236 shares during the period. Institutional investors and hedge funds own 69.22% of the company’s stock.

A number of equities analysts recently issued reports on PEG shares. Mizuho boosted their target price on shares of Public Service Enterprise Group from $54.00 to $61.50 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Wells Fargo & Co boosted their target price on shares of Public Service Enterprise Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, February 28th. They noted that the move was a valuation call. Deutsche Bank lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 target price on the stock. in a research report on Thursday, February 28th. ValuEngine upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, Zacks Investment Research downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $59.10.

Shares of NYSE:PEG opened at $58.75 on Wednesday. Public Service Enterprise Group Inc. has a 52 week low of $49.02 and a 52 week high of $60.36. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.53 and a current ratio of 0.71. The firm has a market capitalization of $30.29 billion, a PE ratio of 18.83, a PEG ratio of 2.95 and a beta of 0.41.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Wednesday, February 27th. The utilities provider reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.01. Public Service Enterprise Group had a net margin of 14.83% and a return on equity of 11.10%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the company earned $0.57 EPS. On average, sell-side analysts forecast that Public Service Enterprise Group Inc. will post 3.24 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.20%. Public Service Enterprise Group’s dividend payout ratio is presently 60.26%.

In related news, Chairman Ralph Izzo sold 52,407 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $54.31, for a total transaction of $2,846,224.17. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Stuart J. Black sold 6,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.07, for a total transaction of $354,420.00. Following the transaction, the vice president now owns 24,981 shares in the company, valued at approximately $1,475,627.67. The disclosure for this sale can be found here. Insiders sold a total of 176,755 shares of company stock worth $10,174,717 in the last 90 days. 0.51% of the stock is owned by corporate insiders.

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Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

Read More: SEC Filing

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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