Kentucky Retirement Systems Insurance Trust Fund Has $1.19 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Kentucky Retirement Systems Insurance Trust Fund lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 19.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,501 shares of the utilities provider's stock after selling 3,413 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Public Service Enterprise Group were worth $1,193,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of PEG. Pinnacle Financial Partners Inc raised its holdings in shares of Public Service Enterprise Group by 6.3% during the 4th quarter. Pinnacle Financial Partners Inc now owns 3,200 shares of the utilities provider's stock valued at $270,000 after purchasing an additional 189 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $4,925,000. Colonial River Investments LLC raised its holdings in shares of Public Service Enterprise Group by 5.4% during the 4th quarter. Colonial River Investments LLC now owns 7,497 shares of the utilities provider's stock valued at $633,000 after purchasing an additional 386 shares in the last quarter. RWC Asset Management LLP raised its holdings in Public Service Enterprise Group by 230.0% in the 4th quarter. RWC Asset Management LLP now owns 219,967 shares of the utilities provider's stock worth $18,585,000 after acquiring an additional 153,318 shares during the period. Finally, IFP Advisors Inc raised its holdings in Public Service Enterprise Group by 14.3% in the 4th quarter. IFP Advisors Inc now owns 17,341 shares of the utilities provider's stock worth $1,465,000 after acquiring an additional 2,171 shares during the period. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Trading Up 1.6%

Shares of NYSE PEG opened at $83.44 on Tuesday. Public Service Enterprise Group Incorporated has a 1-year low of $72.82 and a 1-year high of $95.22. The company has a market cap of $41.64 billion, a PE ratio of 22.80, a P/E/G ratio of 2.94 and a beta of 0.48. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25. The company has a 50-day moving average of $80.35 and a two-hundred day moving average of $82.42.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting analysts' consensus estimates of $1.43. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The company's revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.31 earnings per share. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is 68.85%.

Wall Street Analysts Forecast Growth

PEG has been the topic of several research analyst reports. Morgan Stanley decreased their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Evercore ISI reduced their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target on the stock. in a research report on Wednesday, March 19th. Barclays reduced their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Finally, Bank of America reduced their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Hold" and a consensus price target of $89.54.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the completion of the sale, the chief executive officer now directly owns 221,093 shares of the company's stock, valued at $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.19% 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.

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