Whittier Trust Co. Maintains Stake in Public Service Enterprise Group Incorporated (PEG)

Whittier Trust Co. continued to hold its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,450 shares of the utilities provider’s stock at the end of the second quarter. Whittier Trust Co.’s holdings in Public Service Enterprise Group were worth $277,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PEG. Welch & Forbes LLC increased its position in shares of Public Service Enterprise Group by 0.3% in the first quarter. Welch & Forbes LLC now owns 5,451 shares of the utilities provider’s stock worth $242,000 after buying an additional 15 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Public Service Enterprise Group by 0.8% in the first quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock worth $114,000 after buying an additional 20 shares during the last quarter. Cutter & CO Brokerage Inc. increased its position in shares of Public Service Enterprise Group by 0.5% in the first quarter. Cutter & CO Brokerage Inc. now owns 8,304 shares of the utilities provider’s stock worth $368,000 after buying an additional 38 shares during the last quarter. Trustmark National Bank Trust Department increased its position in shares of Public Service Enterprise Group by 0.9% in the first quarter. Trustmark National Bank Trust Department now owns 6,176 shares of the utilities provider’s stock worth $274,000 after buying an additional 57 shares during the last quarter. Finally, Alpha Cubed Investments LLC increased its position in shares of Public Service Enterprise Group by 1.0% in the first quarter. Alpha Cubed Investments LLC now owns 5,955 shares of the utilities provider’s stock worth $264,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.

Public Service Enterprise Group Incorporated (NYSE:PEG) traded up 0.82% on Friday, reaching $46.68. The company had a trading volume of 2,028,428 shares. The stock has a market capitalization of $23.61 billion, a P/E ratio of 52.45 and a beta of 0.38. The stock’s 50-day moving average price is $44.33 and its 200-day moving average price is $44.29. Public Service Enterprise Group Incorporated has a 12-month low of $39.28 and a 12-month high of $46.95.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.05. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Public Service Enterprise Group had a return on equity of 11.46% and a net margin of 4.88%. During the same period last year, the firm posted $0.57 EPS. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.68%. Public Service Enterprise Group’s dividend payout ratio is 193.26%.

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A number of equities analysts recently weighed in on the stock. Barclays PLC boosted their target price on shares of Public Service Enterprise Group from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 25th. BidaskClub upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Tuesday, July 4th. Wolfe Research upgraded shares of Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a report on Monday, July 17th. Finally, Mizuho upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $44.50 to $50.00 in a report on Friday, August 11th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $48.21.

In related news, Chairman Ralph Izzo sold 23,400 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $45.23, for a total transaction of $1,058,382.00. Following the transaction, the chairman now directly owns 748,474 shares of the company’s stock, valued at approximately $33,853,479.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.61% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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

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