Public Service Enterprise Group Incorporated (PEG) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 29.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,903 shares of the utilities provider’s stock after acquiring an additional 1,568 shares during the period. Teacher Retirement System of Texas’ holdings in Public Service Enterprise Group were worth $319,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in Public Service Enterprise Group by 0.8% during the 3rd quarter. Rhumbline Advisers now owns 880,469 shares of the utilities provider’s stock worth $40,722,000 after acquiring an additional 7,070 shares during the last quarter. Advisor Group Inc. increased its holdings in shares of Public Service Enterprise Group by 6.9% during the 3rd quarter. Advisor Group Inc. now owns 37,105 shares of the utilities provider’s stock worth $1,717,000 after purchasing an additional 2,397 shares during the period. Toronto Dominion Bank increased its holdings in shares of Public Service Enterprise Group by 12.0% during the 3rd quarter. Toronto Dominion Bank now owns 191,893 shares of the utilities provider’s stock worth $8,874,000 after purchasing an additional 20,517 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Public Service Enterprise Group by 8.7% during the 3rd quarter. CIBC Asset Management Inc now owns 98,933 shares of the utilities provider’s stock worth $4,576,000 after purchasing an additional 7,918 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in shares of Public Service Enterprise Group during the 3rd quarter worth about $3,602,000. 66.33% of the stock is owned by hedge funds and other institutional investors.

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) traded up $0.07 during mid-day trading on Friday, hitting $51.50. 338,016 shares of the stock were exchanged, compared to its average volume of 2,767,777. Public Service Enterprise Group Incorporated has a 12 month low of $40.65 and a 12 month high of $52.12. The firm has a market capitalization of $26,025.57, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 6.43 and a beta of 0.39. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.80 and a quick ratio of 0.56.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.02). Public Service Enterprise Group had a return on equity of 11.33% and a net margin of 5.73%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. Public Service Enterprise Group’s revenue for the quarter was down 7.6% on a year-over-year basis. equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 2.92 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.34%. Public Service Enterprise Group’s payout ratio is 166.99%.

PEG has been the topic of a number of analyst reports. Evercore ISI raised shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and upped their target price for the company from $46.75 to $50.00 in a research note on Monday, September 25th. Bank of America Corporation initiated coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $49.00 target price on the stock. Barclays PLC raised shares of Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $49.00 to $51.00 in a research note on Friday, September 22nd. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Tuesday, October 10th. Finally, Morgan Stanley upped their target price on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Public Service Enterprise Group currently has an average rating of “Buy” and a consensus price target of $50.42.

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In related news, Chairman Ralph Izzo sold 20,833 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $46.50, for a total value of $968,734.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Ralph A. Larossa sold 33,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $50.12, for a total transaction of $1,653,960.00. Following the completion of the transaction, the chief operating officer now owns 81,241 shares in the company, valued at $4,071,798.92. The disclosure for this sale can be found here. Insiders have sold 243,118 shares of company stock worth $11,942,975 over the last quarter. 0.61% of the stock is owned by company insiders.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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

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