South Dakota Investment Council cut its position in Public Service Enterprise Group Inc. (NYSE:PEG) by 39.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,019 shares of the utilities provider’s stock after selling 7,281 shares during the period. South Dakota Investment Council’s holdings in Public Service Enterprise Group were worth $648,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PEG. Cornerstone Advisors Inc. grew its holdings in Public Service Enterprise Group by 15.7% during the second quarter. Cornerstone Advisors Inc. now owns 1,256 shares of the utilities provider’s stock worth $74,000 after acquiring an additional 170 shares during the period. Capital Investment Advisors LLC grew its holdings in Public Service Enterprise Group by 2.5% during the second quarter. Capital Investment Advisors LLC now owns 6,860 shares of the utilities provider’s stock worth $404,000 after acquiring an additional 170 shares during the period. Bessemer Group Inc. grew its holdings in Public Service Enterprise Group by 6.7% during the second quarter. Bessemer Group Inc. now owns 2,896 shares of the utilities provider’s stock worth $171,000 after acquiring an additional 182 shares during the period. ELCO Management Co. LLC grew its holdings in Public Service Enterprise Group by 2.7% during the second quarter. ELCO Management Co. LLC now owns 7,498 shares of the utilities provider’s stock worth $441,000 after acquiring an additional 198 shares during the period. Finally, Berman Capital Advisors LLC grew its holdings in Public Service Enterprise Group by 79.0% during the second quarter. Berman Capital Advisors LLC now owns 460 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 203 shares during the period. 69.38% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on PEG shares. Bank of America lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a report on Friday, July 19th. ValuEngine downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Mizuho increased their price target on Public Service Enterprise Group from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Barclays initiated coverage on Public Service Enterprise Group in a research report on Tuesday, August 13th. They set an “overweight” rating and a $63.00 price target on the stock. Finally, UBS Group increased their price target on Public Service Enterprise Group from $67.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $62.61.

In other news, VP Daniel J. Cregg sold 625 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $60.92, for a total value of $38,075.00. Following the transaction, the vice president now owns 60,833 shares in the company, valued at $3,705,946.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Ralph A. Larossa sold 1,650 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $58.26, for a total value of $96,129.00. Following the completion of the transaction, the chief operating officer now owns 83,418 shares in the company, valued at approximately $4,859,932.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,815 shares of company stock worth $6,583,065. Company insiders own 0.51% of the company’s stock.

PEG stock traded down $0.63 during mid-day trading on Friday, reaching $60.82. 894,981 shares of the company’s stock were exchanged, compared to its average volume of 1,873,281. The company has a market cap of $30.92 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 8.35 and a beta of 0.29. The stock’s 50 day moving average is $58.87 and its 200 day moving average is $59.38. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.79 and a quick ratio of 0.59. Public Service Enterprise Group Inc. has a 12-month low of $49.22 and a 12-month high of $62.22.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.04). The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. During the same quarter last year, the business earned $0.64 EPS. On average, research analysts forecast that Public Service Enterprise Group Inc. will post 3.23 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a $0.47 dividend. The ex-dividend date is Friday, September 6th. This represents a $1.88 annualized dividend and a dividend yield of 3.09%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 60.26%.

Public Service Enterprise Group Profile

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 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 to customers.

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

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