Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 27.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 917 shares of the utilities provider’s stock after purchasing an additional 196 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Public Service Enterprise Group were worth $68,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PEG. Evergreen Wealth Solutions LLC grew its holdings in shares of Public Service Enterprise Group by 1.7% during the first quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock valued at $648,000 after buying an additional 159 shares in the last quarter. PDS Planning Inc grew its position in Public Service Enterprise Group by 4.2% during the first quarter. PDS Planning Inc now owns 4,530 shares of the utilities provider’s stock valued at $303,000 after purchasing an additional 181 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of Public Service Enterprise Group by 1.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 17,483 shares of the utilities provider’s stock valued at $1,167,000 after acquiring an additional 183 shares in the last quarter. United Community Bank lifted its holdings in shares of Public Service Enterprise Group by 12.9% during the 1st quarter. United Community Bank now owns 1,616 shares of the utilities provider’s stock valued at $108,000 after buying an additional 185 shares during the last quarter. Finally, Signaturefd LLC raised its position in Public Service Enterprise Group by 2.3% during the fourth quarter. Signaturefd LLC now owns 8,495 shares of the utilities provider’s stock valued at $519,000 after acquiring an additional 187 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PEG. Mizuho raised their price objective on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Morgan Stanley reduced 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 note on Monday, June 24th. Royal Bank of Canada raised their target price on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Scotiabank cut their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Finally, Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.17.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock traded up $1.12 during trading on Tuesday, hitting $78.42. 3,645,346 shares of the company’s stock traded hands, compared to its average volume of 2,869,456. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $81.89. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.62. The company has a market cap of $39.06 billion, a PE ratio of 21.60, a PEG ratio of 2.97 and a beta of 0.59. The firm’s fifty day moving average price is $74.77 and its 200 day moving average price is $68.50.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s payout ratio is 66.48%.

Public Service Enterprise Group Company 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.