Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,533 shares of the utilities provider’s stock after selling 310 shares during the period. Kentucky Retirement Systems’ holdings in Public Service Enterprise Group were worth $2,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in PEG. Family Firm Inc. acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth about $33,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group during the second quarter worth approximately $35,000. Northwest Investment Counselors LLC purchased a new stake in shares of Public Service Enterprise Group during the 1st quarter worth approximately $36,000. Salomon & Ludwin LLC boosted its holdings in shares of Public Service Enterprise Group by 1,866.7% in the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after buying an additional 560 shares in the last quarter. Finally, PFS Partners LLC grew its position in shares of Public Service Enterprise Group by 90.9% in the 1st quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after buying an additional 300 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 4.0 %

NYSE PEG opened at $86.76 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $43.21 billion, a P/E ratio of 24.03, a P/E/G ratio of 3.09 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $86.83. The firm has a 50-day moving average price of $79.70 and a 200 day moving average price of $73.54.

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). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the business earned $0.70 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 2.77%. Public Service Enterprise Group’s payout ratio is currently 66.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PEG shares. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Guggenheim raised 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 report on Monday, June 17th. Royal Bank of Canada lifted their price target on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Morgan Stanley increased their price objective on Public Service Enterprise Group from $78.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Bank of America raised their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.92.

Insider Buying and Selling

In other news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the transaction, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. The disclosure for this sale can be found here. Insiders have sold a total of 30,068 shares of company stock worth $2,406,965 in the last quarter. Company 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.