Public Service Enterprise Group Inc. (PEG) Stake Decreased by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 233,034 shares of the utilities provider’s stock after selling 3,984 shares during the quarter. Retirement Systems of Alabama’s holdings in Public Service Enterprise Group were worth $12,302,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Northern Trust Corp lifted its stake in shares of Public Service Enterprise Group by 1.3% in the second quarter. Northern Trust Corp now owns 5,783,332 shares of the utilities provider’s stock worth $313,109,000 after buying an additional 71,786 shares in the last quarter. FMR LLC lifted its stake in shares of Public Service Enterprise Group by 4.0% in the second quarter. FMR LLC now owns 4,829,070 shares of the utilities provider’s stock worth $261,445,000 after buying an additional 184,169 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Public Service Enterprise Group by 1.7% in the second quarter. Legal & General Group Plc now owns 3,278,681 shares of the utilities provider’s stock worth $177,509,000 after buying an additional 53,372 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Public Service Enterprise Group by 10.0% in the second quarter. Millennium Management LLC now owns 2,143,225 shares of the utilities provider’s stock worth $116,034,000 after buying an additional 195,140 shares in the last quarter. Finally, Pendal Group Ltd lifted its stake in shares of Public Service Enterprise Group by 5.6% in the second quarter. Pendal Group Ltd now owns 2,128,055 shares of the utilities provider’s stock worth $115,213,000 after buying an additional 112,671 shares in the last quarter. Institutional investors and hedge funds own 67.35% of the company’s stock.

Shares of Public Service Enterprise Group stock traded down $0.08 on Thursday, reaching $53.50. The company had a trading volume of 3,403,546 shares, compared to its average volume of 3,828,093. The company has a market capitalization of $27.08 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 2.57 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. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.51 and a current ratio of 0.72.

Public Service Enterprise Group (NYSE:PEG) last released 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 business 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 period in the previous year, the firm earned $0.82 EPS. Equities analysts expect that Public Service Enterprise Group Inc. will post 3.1 earnings per share for the current 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 paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Thursday, December 6th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 61.43%.

A number of equities analysts have commented on the stock. Deutsche Bank reduced their target price on shares of Public Service Enterprise Group from $58.00 to $57.00 and set a “hold” rating on the stock in a research note on Wednesday, October 31st. Macquarie lifted their target price on shares of Public Service Enterprise Group from $55.50 to $57.00 and gave the stock an “outperform” rating in a research note on Monday, September 24th. MED reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Monday, November 5th. Morgan Stanley set a $59.00 target price on shares of Public Service Enterprise Group and gave the stock a “buy” rating in a research note on Thursday, October 11th. Finally, Mizuho reaffirmed a “hold” rating and set a $50.00 target price on shares of Public Service Enterprise Group in a research note on Monday, August 6th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $56.46.

In other news, Chairman Ralph Izzo sold 52,407 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $52.57, for a total value of $2,755,035.99. Following the sale, the chairman now directly owns 558,073 shares of the company’s stock, valued at approximately $29,337,897.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Derek M. Dirisio sold 2,300 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $53.02, for a total transaction of $121,946.00. The disclosure for this sale can be found here. Insiders sold a total of 156,942 shares of company stock worth $8,272,885 over the last three months. 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.

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

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