Commonwealth of Pennsylvania Public School Empls Retrmt SYS Trims Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 944,708 shares of the utilities provider’s stock after selling 3,785 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.19% of Public Service Enterprise Group worth $79,818,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PEG. Foundations Investment Advisors LLC increased its holdings in shares of Public Service Enterprise Group by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after purchasing an additional 18,627 shares in the last quarter. DRW Securities LLC purchased a new position in shares of Public Service Enterprise Group during the third quarter valued at approximately $8,244,000. Cullen Investment Group LTD. grew its stake in Public Service Enterprise Group by 65.3% in the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after acquiring an additional 10,610 shares during the period. Arvest Bank Trust Division acquired a new position in Public Service Enterprise Group in the 3rd quarter valued at $2,860,000. Finally, Parsons Capital Management Inc. RI acquired a new stake in Public Service Enterprise Group in the 4th quarter worth about $2,565,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 1.3 %

Shares of PEG opened at $83.21 on Thursday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a one year low of $63.54 and a one year high of $95.22. The stock has a 50-day moving average price of $83.57 and a 200 day moving average price of $86.02. The company has a market capitalization of $41.48 billion, a P/E ratio of 20.44, a P/E/G ratio of 2.78 and a beta of 0.60.

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

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.03%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s payout ratio is 71.19%.

Insider Activity at Public Service Enterprise Group

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on PEG shares. Guggenheim reiterated a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. BMO Capital Markets lifted their price target on shares of 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. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a report on Wednesday. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $88.00 to $84.00 in a report on Monday, January 27th. Finally, Wells Fargo & Company dropped their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.27.

Public Service Enterprise Group Company 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.