Tompkins Financial Corp Sells 1,622 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Tompkins Financial Corp lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 125,710 shares of the utilities provider’s stock after selling 1,622 shares during the period. Tompkins Financial Corp’s holdings in Public Service Enterprise Group were worth $10,621,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at about $35,000. Northwest Investment Counselors LLC purchased a new stake in Public Service Enterprise Group in the third quarter valued at approximately $48,000. Legacy Investment Solutions LLC purchased a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at $59,000. Kimelman & Baird LLC bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth $66,000. Finally, Fortitude Family Office LLC grew its position in Public Service Enterprise Group by 325.0% in the third quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock worth $71,000 after acquiring an additional 611 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now owns 144,212 shares in the company, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,234 shares of company stock valued at $722,037. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

PEG has been the topic of a number of research reports. UBS Group raised their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Barclays cut their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Scotiabank upped their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.17.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $88.41 on Friday. The company’s fifty day simple moving average is $87.57 and its two-hundred day simple moving average is $84.23. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $95.22. The firm has a market cap of $44.05 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 2.81 and a beta of 0.65. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same period last year, the firm earned $0.85 earnings per share. Public Service Enterprise Group’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 58.97%.

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.