Public Service Enterprise Group Incorporated (PEG) Shares Bought by Fiduciary Trust Co.

Fiduciary Trust Co. raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,557 shares of the utilities provider’s stock after acquiring an additional 602 shares during the quarter. Fiduciary Trust Co.’s holdings in Public Service Enterprise Group were worth $884,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. KBC Group NV boosted its position in Public Service Enterprise Group by 1.2% during the 2nd quarter. KBC Group NV now owns 54,191 shares of the utilities provider’s stock valued at $2,331,000 after acquiring an additional 617 shares in the last quarter. FMR LLC boosted its position in Public Service Enterprise Group by 1.9% during the 1st quarter. FMR LLC now owns 2,166,576 shares of the utilities provider’s stock valued at $96,088,000 after acquiring an additional 40,125 shares in the last quarter. Vanguard Group Inc. boosted its position in Public Service Enterprise Group by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock valued at $1,554,116,000 after acquiring an additional 1,144,077 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in Public Service Enterprise Group by 4.1% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 134,336 shares of the utilities provider’s stock valued at $5,778,000 after acquiring an additional 5,263 shares in the last quarter. Finally, Peapack Gladstone Financial Corp boosted its position in Public Service Enterprise Group by 6.6% during the 1st quarter. Peapack Gladstone Financial Corp now owns 151,656 shares of the utilities provider’s stock valued at $6,726,000 after acquiring an additional 9,338 shares in the last quarter. 65.88% of the stock is currently owned by institutional investors and hedge funds.

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Several research firms have weighed in on PEG. BidaskClub raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Morgan Stanley lifted their price objective on Public Service Enterprise Group from $51.00 to $53.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. Zacks Investment Research cut Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Mizuho raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $44.50 to $50.00 in a research report on Friday, August 11th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $49.00 price objective (up from $44.00) on shares of Public Service Enterprise Group in a research report on Thursday, August 10th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $49.05.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 23,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $45.23, for a total value of $1,058,382.00. Following the completion of the sale, the chairman now directly owns 748,474 shares in the company, valued at $33,853,479.02. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Derek M. Dirisio sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $47.11, for a total transaction of $70,665.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,900 shares of company stock worth $2,413,947. Insiders own 0.61% of the company’s stock.

Public Service Enterprise Group Incorporated (PEG) opened at 46.19 on Friday. Public Service Enterprise Group Incorporated has a 12-month low of $39.28 and a 12-month high of $47.47. The stock has a market capitalization of $23.37 billion, a price-to-earnings ratio of 51.90 and a beta of 0.39. The stock’s 50 day moving average is $46.22 and its 200 day moving average is $44.64.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid 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 3.72%. Public Service Enterprise Group’s dividend payout ratio is presently 193.26%.

About Public Service Enterprise Group

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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