Teachers Retirement System of The State of Kentucky Trims Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Teachers Retirement System of The State of Kentucky trimmed its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.0% in the 3rd quarter, according to its most recent disclosure 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.

Several other hedge funds also recently added to or reduced their stakes in the business. Family Firm Inc. acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at $33,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group in the second quarter valued at about $35,000. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group in the third quarter valued at about $35,000. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group during the third quarter worth about $48,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Public Service Enterprise Group during the second quarter valued at about $58,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Up 1.0 %

Shares of NYSE:PEG opened at $86.81 on Friday. The company has a market cap of $43.25 billion, a PE ratio of 21.33, a P/E/G ratio of 3.14 and a beta of 0.62. The company’s 50 day moving average is $89.21 and its two-hundred day moving average is $82.40. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly 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 return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the business earned $0.85 EPS. Public Service Enterprise Group’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

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

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the sale, the chief executive officer now owns 147,514 shares in the company, valued at approximately $13,305,762.80. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now directly 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 17,798 shares of company stock worth $1,595,921. 0.57% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PEG has been the subject of several research reports. Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 target price for the company. Wells Fargo & Company raised their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Scotiabank boosted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday. Morgan Stanley increased their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, Evercore ISI lifted their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.17.

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.