Mitsubishi UFJ Trust & Banking Corp Decreases Position in Public Service Enterprise Group Inc. (PEG)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in Public Service Enterprise Group Inc. (NYSE:PEG) by 60.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 427,162 shares of the utilities provider’s stock after selling 643,598 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Public Service Enterprise Group were worth $22,550,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. NuWave Investment Management LLC bought a new stake in Public Service Enterprise Group during the 2nd quarter valued at about $118,000. Psagot Investment House Ltd. bought a new stake in Public Service Enterprise Group during the 3rd quarter valued at about $129,000. Reilly Financial Advisors LLC increased its stake in Public Service Enterprise Group by 49.2% during the 3rd quarter. Reilly Financial Advisors LLC now owns 3,031 shares of the utilities provider’s stock valued at $160,000 after purchasing an additional 1,000 shares in the last quarter. Centaurus Financial Inc. bought a new stake in Public Service Enterprise Group during the 2nd quarter valued at about $161,000. Finally, Adviser Investments LLC increased its stake in Public Service Enterprise Group by 98.8% during the 2nd quarter. Adviser Investments LLC now owns 3,224 shares of the utilities provider’s stock valued at $175,000 after purchasing an additional 1,602 shares in the last quarter. Institutional investors own 67.35% of the company’s stock.

Shares of NYSE PEG opened at $55.90 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.51 and a debt-to-equity ratio of 0.90. The stock has a market cap of $27.56 billion, a PE ratio of 19.08, a P/E/G ratio of 2.62 and a beta of 0.28. Public Service Enterprise Group Inc. has a 52-week low of $46.19 and a 52-week high of $56.68.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.62 billion. Public Service Enterprise Group had a net margin of 23.54% and a return on equity of 11.24%. During the same quarter last year, the firm posted $0.82 EPS. On average, equities research analysts forecast that Public Service Enterprise Group Inc. will post 3.1 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 7th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Thursday, December 6th. Public Service Enterprise Group’s payout ratio is presently 61.43%.

A number of analysts have weighed in on the stock. MED restated a “buy” rating on shares of Public Service Enterprise Group in a research note on Monday, November 5th. Deutsche Bank reduced their price objective on shares of Public Service Enterprise Group from $58.00 to $57.00 and set a “hold” rating for the company in a research note on Wednesday, October 31st. Argus raised their price objective on shares of Public Service Enterprise Group from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 17th. Morgan Stanley set a $59.00 price objective on shares of Public Service Enterprise Group and gave the company a “buy” rating in a research note on Thursday, October 11th. Finally, ValuEngine upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Public Service Enterprise Group has a consensus rating of “Buy” and an average price target of $56.46.

In other news, insider Derek M. Dirisio sold 2,300 shares of the firm’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $53.02, for a total transaction of $121,946.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Ralph Izzo sold 52,407 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $52.57, for a total transaction of $2,755,035.99. Following the sale, the chairman now directly owns 558,073 shares in the company, valued at approximately $29,337,897.61. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 156,942 shares of company stock worth $8,272,885. Insiders own 0.58% of the company’s stock.

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Public Service Enterprise Group Company 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; and 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.

Further Reading: Moving Average – How it Helps Investors in Stock Selection

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

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