Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Arizona State Retirement System

Arizona State Retirement System lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 142,274 shares of the utilities provider’s stock after selling 537 shares during the quarter. Arizona State Retirement System’s holdings in Public Service Enterprise Group were worth $12,021,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEG. Ashton Thomas Securities LLC acquired a new stake in Public Service Enterprise Group during the 3rd quarter worth about $35,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $35,000. Stonebridge Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $54,000. Financial Life Planners acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $56,000. Finally, Brown Lisle Cummings Inc. acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $57,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $78.11 on Friday. Public Service Enterprise Group Incorporated has a 12 month low of $63.31 and a 12 month high of $95.22. The stock has a 50 day moving average of $84.39 and a two-hundred day moving average of $86.00. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The firm has a market cap of $38.92 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business earned $0.54 EPS. Public Service Enterprise Group’s quarterly revenue was down 5.4% on a year-over-year basis. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.23%. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s payout ratio is 71.19%.

Analyst Ratings Changes

PEG has been the subject of several analyst reports. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $88.00 to $84.00 in a report on Monday, January 27th. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company decreased their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Scotiabank lifted their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.83.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is owned by company insiders.

About Public Service Enterprise Group

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.