State of New Jersey Common Pension Fund D cut its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 17.2% during the second quarter, Holdings Channel reports. The fund owned 240,000 shares of the utilities provider’s stock after selling 50,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Public Service Enterprise Group were worth $10,322,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. FMR LLC raised its stake in Public Service Enterprise Group by 1.9% in the first quarter. FMR LLC now owns 2,166,576 shares of the utilities provider’s stock valued at $96,088,000 after buying an additional 40,125 shares during the last quarter. Vanguard Group Inc. raised its stake in Public Service Enterprise Group by 3.4% in the first quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock valued at $1,554,116,000 after buying an additional 1,144,077 shares during the last quarter. Bank of Montreal Can raised its stake in Public Service Enterprise Group by 47.8% in the first quarter. Bank of Montreal Can now owns 1,004,699 shares of the utilities provider’s stock valued at $44,559,000 after buying an additional 325,079 shares during the last quarter. DT Investment Partners LLC raised its stake in Public Service Enterprise Group by 15.9% in the first quarter. DT Investment Partners LLC now owns 22,646 shares of the utilities provider’s stock valued at $1,004,000 after buying an additional 3,115 shares during the last quarter. Finally, Peapack Gladstone Financial Corp raised its stake in Public Service Enterprise Group by 6.6% in the first quarter. Peapack Gladstone Financial Corp now owns 151,656 shares of the utilities provider’s stock valued at $6,726,000 after buying an additional 9,338 shares during the last quarter. 65.76% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Incorporated (PEG) opened at 45.44 on Thursday. The stock has a market capitalization of $22.99 billion, a P/E ratio of 51.06 and a beta of 0.38. The firm’s 50-day moving average price is $43.82 and its 200 day moving average price is $44.15. Public Service Enterprise Group Incorporated has a 12-month low of $39.28 and a 12-month high of $46.14.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.33 billion. Public Service Enterprise Group had a return on equity of 11.46% and a net margin of 4.88%. During the same quarter in the previous year, the company earned $0.57 earnings per share. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Thursday, September 7th. Public Service Enterprise Group’s payout ratio is 193.26%.

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Several research firms have recently issued reports on PEG. Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, August 1st. Royal Bank Of Canada reiterated an “outperform” rating on shares of Public Service Enterprise Group in a report on Wednesday, May 10th. BidaskClub upgraded Public Service Enterprise Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Public Service Enterprise Group in a report on Tuesday, June 27th. Finally, Wolfe Research upgraded Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a report on Monday, July 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $47.30.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 23,400 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $45.23, for a total value of $1,058,382.00. Following the sale, the chairman now owns 748,474 shares of the company’s stock, valued at $33,853,479.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Ralph A. Larossa sold 24,021 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $43.55, for a total value of $1,046,114.55. The disclosure for this sale can be found here. In the last three months, insiders sold 77,421 shares of company stock worth $3,389,397. 0.61% of the stock is owned by corporate insiders.

Public Service Enterprise Group Company 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.

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

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