New York State Common Retirement Fund Decreases Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

New York State Common Retirement Fund reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 492,174 shares of the utilities provider’s stock after selling 46,330 shares during the quarter. New York State Common Retirement Fund’s holdings in Public Service Enterprise Group were worth $30,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Rockline Wealth Management LLC purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $1,185,000. Allspring Global Investments Holdings LLC grew its position in shares of Public Service Enterprise Group by 4.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock valued at $25,397,000 after purchasing an additional 17,838 shares in the last quarter. Jennison Associates LLC grew its position in shares of Public Service Enterprise Group by 79.9% in the fourth quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock valued at $54,757,000 after purchasing an additional 397,606 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Public Service Enterprise Group by 5,613.8% in the fourth quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock valued at $10,545,000 after purchasing an additional 169,425 shares in the last quarter. Finally, PATRIZIA Pty Ltd purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $5,158,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the transaction, the chief executive officer now owns 152,347 shares in the company, valued at approximately $10,111,270.39. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now owns 31,122 shares in the company, valued at approximately $1,997,409.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the transaction, the chief executive officer now owns 152,347 shares in the company, valued at approximately $10,111,270.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,948 shares of company stock valued at $511,814. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Up 1.3 %

NYSE PEG opened at $68.09 on Friday. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $68.31. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. The stock has a 50-day moving average of $64.48 and a 200-day moving average of $62.22. The firm has a market cap of $33.95 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 2.94 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the previous year, the company posted $0.64 EPS. Public Service Enterprise Group’s revenue for the quarter was down 17.0% on a year-over-year basis. As a group, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 46.78%.

Analyst Upgrades and Downgrades

PEG has been the subject of several recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Wells Fargo & Company boosted their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Guggenheim cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price for the company. in a research report on Monday, January 22nd. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Finally, Evercore ISI boosted their target price on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.15.

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.