Texas Permanent School Fund Sells 4,157 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Texas Permanent School Fund decreased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,589 shares of the utilities provider’s stock after selling 4,157 shares during the period. Texas Permanent School Fund’s holdings in Public Service Enterprise Group were worth $4,591,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. FinTrust Capital Advisors LLC boosted its stake in shares of Public Service Enterprise Group by 16.6% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,041 shares of the utilities provider’s stock valued at $72,000 after purchasing an additional 148 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Public Service Enterprise Group by 2.5% during the 4th quarter. Checchi Capital Advisers LLC now owns 6,168 shares of the utilities provider’s stock valued at $412,000 after purchasing an additional 150 shares in the last quarter. Intrust Bank NA boosted its stake in shares of Public Service Enterprise Group by 4.6% during the 4th quarter. Intrust Bank NA now owns 3,602 shares of the utilities provider’s stock valued at $240,000 after purchasing an additional 158 shares in the last quarter. Capital Asset Advisory Services LLC boosted its stake in shares of Public Service Enterprise Group by 2.5% during the 4th quarter. Capital Asset Advisory Services LLC now owns 6,757 shares of the utilities provider’s stock valued at $451,000 after purchasing an additional 166 shares in the last quarter. Finally, Raab & Moskowitz Asset Management LLC boosted its stake in shares of Public Service Enterprise Group by 2.4% during the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 7,170 shares of the utilities provider’s stock valued at $478,000 after purchasing an additional 167 shares in the last quarter. Institutional investors own 70.82% of the company’s stock.

Analysts Set New Price Targets

PEG has been the topic of several research reports. Mizuho dropped their price objective on shares of Public Service Enterprise Group from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, July 12th. Morgan Stanley dropped their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Monday, May 23rd. Credit Suisse Group initiated coverage on shares of Public Service Enterprise Group in a research note on Monday, April 25th. They set a “neutral” rating and a $76.00 price objective on the stock. TheStreet lowered shares of Public Service Enterprise Group from a “b” rating to a “c” rating in a research note on Monday, June 13th. Finally, Wells Fargo & Company dropped their price objective on shares of Public Service Enterprise Group from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.36.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph Izzo sold 9,883 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $68.10, for a total transaction of $673,032.30. Following the completion of the sale, the chief executive officer now directly owns 457,539 shares of the company’s stock, valued at $31,158,405.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 1,054 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $65.76, for a total value of $69,311.04. Following the completion of the transaction, the chief operating officer now directly owns 61,259 shares in the company, valued at $4,028,391.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ralph Izzo sold 9,883 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $68.10, for a total transaction of $673,032.30. Following the completion of the transaction, the chief executive officer now owns 457,539 shares of the company’s stock, valued at $31,158,405.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,357 shares of company stock valued at $2,133,525. Insiders own 0.55% of the company’s stock.

Public Service Enterprise Group Stock Up 0.0 %

Shares of Public Service Enterprise Group stock opened at $64.74 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.79 and a current ratio of 0.78. The company has a 50-day simple moving average of $63.21 and a two-hundred day simple moving average of $66.34. Public Service Enterprise Group Incorporated has a 52-week low of $58.19 and a 52-week high of $75.61. The stock has a market capitalization of $32.32 billion, a PE ratio of -33.03, a price-to-earnings-growth ratio of 5.32 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEGGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The utilities provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). Public Service Enterprise Group had a negative net margin of 10.59% and a positive return on equity of 13.25%. The company 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 revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.47 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $2.16 dividend on an annualized basis and a yield of 3.34%. Public Service Enterprise Group’s dividend payout ratio is currently -110.20%.

Public Service Enterprise Group Company Profile

(Get Rating)

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.

See Also

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

Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.