Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,239 shares of the utilities provider’s stock after selling 2,356 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Public Service Enterprise Group were worth $3,322,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Old Port Advisors raised its stake in Public Service Enterprise Group by 0.5% during the 3rd quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock valued at $2,099,000 after acquiring an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC increased its holdings in shares of Public Service Enterprise Group by 1.3% in the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock valued at $827,000 after purchasing an additional 115 shares during the period. First Commonwealth Financial Corp PA raised its stake in shares of Public Service Enterprise Group by 1.3% during the third quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock worth $842,000 after purchasing an additional 123 shares during the last quarter. Cigna Investments Inc. New lifted its holdings in shares of Public Service Enterprise Group by 2.5% during the third quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 124 shares during the period. Finally, Great Lakes Retirement Inc. lifted its holdings in shares of Public Service Enterprise Group by 0.4% during the third quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock worth $2,619,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 1.0 %

Public Service Enterprise Group stock opened at $86.81 on Friday. The firm has a market capitalization of $43.25 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 3.14 and a beta of 0.62. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $95.22. The stock’s fifty day moving average is $89.21 and its two-hundred day moving average is $82.40.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the previous year, the business posted $0.85 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. Analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be given a $0.60 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.76%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Analyst Ratings Changes

A number of brokerages have commented on PEG. UBS Group upped their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Evercore ISI lifted their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Bank of America increased their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday. Four research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.17.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the sale, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,798 shares of company stock valued at $1,595,921 over the last quarter. Insiders own 0.57% of the company’s stock.

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.