New York State Teachers Retirement System Has $42.18 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

New York State Teachers Retirement System lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.8% during the third quarter, HoldingsChannel reports. The fund owned 472,838 shares of the utilities provider’s stock after selling 13,788 shares during the quarter. New York State Teachers Retirement System’s holdings in Public Service Enterprise Group were worth $42,182,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Heritage Wealth Management Inc. purchased a new stake in shares of Public Service Enterprise Group in the second quarter worth approximately $422,000. QRG Capital Management Inc. boosted its holdings in Public Service Enterprise Group by 28.0% during the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock worth $5,227,000 after acquiring an additional 15,505 shares during the last quarter. CWM LLC grew its stake in shares of Public Service Enterprise Group by 72.3% in the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock worth $1,532,000 after acquiring an additional 8,723 shares in the last quarter. Czech National Bank raised its holdings in shares of Public Service Enterprise Group by 8.3% in the second quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock valued at $6,995,000 after purchasing an additional 7,235 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Public Service Enterprise Group by 145.5% during the first quarter. SG Americas Securities LLC now owns 64,437 shares of the utilities provider’s stock valued at $4,303,000 after purchasing an additional 38,188 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the sale, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the transaction, the executive vice president now directly owns 57,961 shares in the company, valued at $4,610,217.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,010 shares of company stock worth $3,397,855 in the last quarter. 0.18% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Up 0.3 %

Public Service Enterprise Group stock opened at $88.42 on Thursday. The firm has a market capitalization of $44.05 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 2.73 and a beta of 0.61. The firm has a 50 day simple moving average of $86.19 and a 200 day simple moving average of $78.32. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $92.20. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 earnings per share. On average, analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on PEG. BMO Capital Markets increased their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Evercore ISI upped their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Morgan Stanley lifted their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, Wells Fargo & Company increased their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.46.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.