Teachers Retirement System of The State of Kentucky Lowers Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Teachers Retirement System of The State of Kentucky trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,915 shares of the utilities provider’s stock after selling 1,991 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Public Service Enterprise Group were worth $2,624,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PEG. Kestra Advisory Services LLC raised its position in shares of Public Service Enterprise Group by 4.9% in the 3rd quarter. Kestra Advisory Services LLC now owns 44,239 shares of the utilities provider’s stock worth $2,518,000 after acquiring an additional 2,066 shares in the last quarter. Rafferty Asset Management LLC raised its position in shares of Public Service Enterprise Group by 11.5% in the 3rd quarter. Rafferty Asset Management LLC now owns 50,871 shares of the utilities provider’s stock worth $2,895,000 after acquiring an additional 5,260 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Public Service Enterprise Group in the 3rd quarter worth $778,000. Envestnet Asset Management Inc. raised its position in shares of Public Service Enterprise Group by 50.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 837,034 shares of the utilities provider’s stock worth $47,636,000 after acquiring an additional 280,515 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Public Service Enterprise Group in the 3rd quarter worth $281,000. 73.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PEG shares. Evercore ISI boosted their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Scotiabank reduced their target price on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Bank of America upped their target price on Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Finally, BMO Capital Markets reduced their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $71.67.

Public Service Enterprise Group Stock Up 0.3 %

Shares of PEG opened at $73.29 on Thursday. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $75.82. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $36.50 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 3.04 and a beta of 0.59. The stock’s 50-day moving average price is $71.55 and its 200-day moving average price is $65.26.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the company earned $1.39 EPS. The firm’s quarterly revenue was down 26.5% compared to the same quarter last year. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.27%. Public Service Enterprise Group’s payout ratio is 66.48%.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total value of $91,192.38. Following the sale, the chief executive officer now owns 152,347 shares in the company, valued at $10,111,270.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 2,948 shares of company stock worth $199,910 over the last quarter. 0.18% of the stock is currently owned by insiders.

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.