New York State Common Retirement Fund Has $34.99 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

New York State Common Retirement Fund reduced its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 15.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 581,190 shares of the utilities provider’s stock after selling 107,950 shares during the quarter. New York State Common Retirement Fund’s holdings in Public Service Enterprise Group were worth $34,993,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Public Service Enterprise Group by 1.1% in the 1st quarter. BlackRock Inc. now owns 51,569,927 shares of the utilities provider’s stock valued at $3,105,026,000 after purchasing an additional 554,884 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Public Service Enterprise Group by 188.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,136,648 shares of the utilities provider’s stock valued at $1,523,767,000 after purchasing an additional 17,069,173 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Public Service Enterprise Group by 10.8% in the 4th quarter. Nordea Investment Management AB now owns 7,349,367 shares of the utilities provider’s stock valued at $428,468,000 after purchasing an additional 717,747 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Public Service Enterprise Group by 55.7% in the 4th quarter. Wells Fargo & Company MN now owns 3,430,521 shares of the utilities provider’s stock valued at $200,000,000 after purchasing an additional 1,227,917 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Public Service Enterprise Group by 12.4% in the 4th quarter. Federated Hermes Inc. now owns 2,581,300 shares of the utilities provider’s stock valued at $150,490,000 after purchasing an additional 285,613 shares during the last quarter. 70.06% of the stock is currently owned by institutional investors.

A number of research firms have recently commented on PEG. Morgan Stanley upped their price objective on shares of Public Service Enterprise Group from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, April 20th. Mizuho raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $56.00 to $67.50 in a research note on Thursday, April 29th. Barclays increased their target price on shares of Public Service Enterprise Group from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 25th. Seaport Global Securities raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Monday, May 24th. Finally, KeyCorp increased their target price on shares of Public Service Enterprise Group from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 14th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $66.55.

PEG opened at $61.63 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.63 and a current ratio of 0.79. The business’s fifty day simple moving average is $62.18. Public Service Enterprise Group Incorporated has a 1-year low of $46.70 and a 1-year high of $64.30. The firm has a market capitalization of $31.15 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 5.04 and a beta of 0.54.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Wednesday, May 5th. The utilities provider reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.16. Public Service Enterprise Group had a net margin of 21.68% and a return on equity of 11.77%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.47 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 8th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, June 7th. This represents a $2.04 annualized dividend and a dividend yield of 3.31%. Public Service Enterprise Group’s dividend payout ratio is currently 59.48%.

In other news, COO Ralph A. Larossa sold 4,890 shares of the stock in a transaction dated Monday, April 19th. The shares were sold at an average price of $63.30, for a total value of $309,537.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 15,464 shares of company stock valued at $973,073. 0.52% of the stock is currently owned by corporate insiders.

About Public Service Enterprise Group

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.

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

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