State of Alaska Department of Revenue Grows Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

State of Alaska Department of Revenue raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) by 16.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,345 shares of the utilities provider’s stock after purchasing an additional 13,775 shares during the quarter. State of Alaska Department of Revenue’s holdings in Public Service Enterprise Group were worth $6,222,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. KBC Group NV lifted its stake in shares of Public Service Enterprise Group by 3.9% during the 1st quarter. KBC Group NV now owns 30,648 shares of the utilities provider’s stock valued at $2,145,000 after buying an additional 1,150 shares in the last quarter. Aviva PLC raised its holdings in Public Service Enterprise Group by 75.7% during the first quarter. Aviva PLC now owns 316,219 shares of the utilities provider’s stock valued at $22,135,000 after acquiring an additional 136,229 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Public Service Enterprise Group by 2.5% in the first quarter. PNC Financial Services Group Inc. now owns 723,349 shares of the utilities provider’s stock valued at $50,634,000 after acquiring an additional 17,720 shares in the last quarter. Empirical Finance LLC boosted its stake in shares of Public Service Enterprise Group by 12.4% in the first quarter. Empirical Finance LLC now owns 9,739 shares of the utilities provider’s stock worth $682,000 after acquiring an additional 1,075 shares during the period. Finally, Johnson Investment Counsel Inc. grew its position in shares of Public Service Enterprise Group by 3.1% during the first quarter. Johnson Investment Counsel Inc. now owns 10,424 shares of the utilities provider’s stock worth $730,000 after purchasing an additional 318 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Credit Suisse Group boosted their price target on Public Service Enterprise Group to $69.00 in a report on Tuesday, August 9th. Morgan Stanley raised their target price on shares of Public Service Enterprise Group from $75.00 to $81.00 and gave the company an “overweight” rating in a research note on Thursday, August 18th. TheStreet cut shares of Public Service Enterprise Group from a “b” rating to a “c” rating in a research note on Monday, June 13th. Mizuho cut their price objective on Public Service Enterprise Group from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, July 12th. Finally, StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $69.64.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $66.62 on Tuesday. The stock has a market cap of $33.23 billion, a price-to-earnings ratio of -33.99, a price-to-earnings-growth ratio of 6.14 and a beta of 0.55. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.68 and a current ratio of 0.78. The stock has a 50 day moving average price of $65.06 and a 200-day moving average price of $66.66. Public Service Enterprise Group Incorporated has a one year low of $58.19 and a one year high of $75.61.

Public Service Enterprise Group (NYSE:PEGGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The utilities provider reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.01). Public Service Enterprise Group had a positive return on equity of 13.25% and a negative net margin of 10.59%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.48 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Thursday, September 8th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently -110.20%.

Insiders Place Their Bets

In other news, COO Ralph A. Larossa sold 1,054 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $65.75, for a total transaction of $69,300.50. Following the transaction, the chief operating officer now owns 62,313 shares of the company’s stock, valued at $4,097,079.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Ralph Izzo sold 9,883 shares of Public Service Enterprise Group stock in a transaction on Friday, July 1st. The stock was sold at an average price of $64.15, for a total transaction of $633,994.45. Following the completion of the sale, the chief executive officer now directly owns 447,656 shares in the company, valued at $28,717,132.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Ralph A. Larossa sold 1,054 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $65.75, for a total transaction of $69,300.50. Following the completion of the transaction, the chief operating officer now owns 62,313 shares in the company, valued at $4,097,079.75. The disclosure for this sale can be found here. Insiders sold a total of 22,274 shares of company stock valued at $1,446,725 over the last 90 days. Insiders own 0.55% of the company’s stock.

Public Service Enterprise Group Company Profile

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Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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