Massmutual Trust Co. FSB ADV Purchases 196 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Massmutual Trust Co. FSB ADV lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 27.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 917 shares of the utilities provider’s stock after acquiring 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 quarter.

Several other institutional investors have also modified their holdings of PEG. Ballentine Partners LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $337,000. Private Trust Co. NA boosted its holdings in shares of Public Service Enterprise Group by 8.3% in the fourth quarter. Private Trust Co. NA now owns 3,594 shares of the utilities provider’s stock valued at $220,000 after purchasing an additional 276 shares during the period. International Assets Investment Management LLC increased its holdings in Public Service Enterprise Group by 5,613.8% during the 4th quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock worth $10,545,000 after purchasing an additional 169,425 shares during the period. Allworth Financial LP raised its position in Public Service Enterprise Group by 82.7% during the 4th quarter. Allworth Financial LP now owns 4,007 shares of the utilities provider’s stock valued at $245,000 after purchasing an additional 1,814 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC increased its stake in shares of Public Service Enterprise Group by 149.9% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 10,724 shares of the utilities provider’s stock valued at $656,000 after buying an additional 6,433 shares during the period. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG traded up $1.12 during midday trading on Tuesday, hitting $78.42. The company had a trading volume of 3,645,346 shares, compared to its average volume of 2,869,456. The business’s 50-day simple moving average is $74.77 and its 200-day simple moving average is $68.50. The stock has a market cap of $39.06 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 2.97 and a beta of 0.59. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.62. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $81.89.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $2.42 billion for 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 revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 EPS. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a yield of 3.06%. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PEG. Barclays increased their price objective on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Mizuho raised their target price on shares of 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. Bank of America boosted their target price on Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. 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. Finally, Morgan Stanley dropped their price objective on Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.17.

Public Service Enterprise Group 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.