Illinois Municipal Retirement Fund Sells 24,906 Shares of Public Service Enterprise Group Incorporated $PEG

Illinois Municipal Retirement Fund lessened its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 22.3% in the third quarter, HoldingsChannel reports. The firm owned 86,877 shares of the utilities provider’s stock after selling 24,906 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Public Service Enterprise Group were worth $7,251,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Public Service Enterprise Group by 1.9% during the second quarter. Vanguard Group Inc. now owns 64,961,047 shares of the utilities provider’s stock valued at $5,468,421,000 after buying an additional 1,199,371 shares during the period. State Street Corp grew its position in shares of Public Service Enterprise Group by 0.8% in the 2nd quarter. State Street Corp now owns 27,330,736 shares of the utilities provider’s stock worth $2,300,701,000 after buying an additional 206,843 shares during the period. Bank of America Corp DE increased its stake in shares of Public Service Enterprise Group by 24.7% in the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after acquiring an additional 3,469,886 shares in the last quarter. Geode Capital Management LLC lifted its position in Public Service Enterprise Group by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 12,526,776 shares of the utilities provider’s stock valued at $1,049,973,000 after acquiring an additional 110,087 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Public Service Enterprise Group by 9.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock valued at $674,218,000 after acquiring an additional 715,051 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Up 1.9%

PEG stock opened at $86.12 on Friday. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $91.25. The business has a fifty day moving average price of $80.22 and a 200-day moving average price of $82.07. The stock has a market capitalization of $42.99 billion, a P/E ratio of 20.70, a P/E/G ratio of 2.73 and a beta of 0.59. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were given a dividend of $0.63 per share. The ex-dividend date was Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a yield of 2.9%. Public Service Enterprise Group’s dividend payout ratio is 60.58%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. BTIG Research assumed coverage on shares of Public Service Enterprise Group in a report on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price objective on the stock. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price target on the stock in a research report on Wednesday, January 7th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $85.00 price objective (down previously from $88.00) on shares of Public Service Enterprise Group in a research report on Thursday, January 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. Finally, UBS Group dropped their target price on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.96.

About Public Service Enterprise Group

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.