Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) 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 firm owned 944,708 shares of the utilities provider's stock after selling 3,785 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.19% of Public Service Enterprise Group worth $79,818,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wingate Wealth Advisors Inc. purchased a new position in Public Service Enterprise Group in the fourth quarter valued at approximately $35,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $39,000. Stonebridge Financial Group LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $54,000. Financial Life Planners acquired a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $56,000. Finally, Brown Lisle Cummings Inc. purchased a new stake in Public Service Enterprise Group during the 4th quarter worth $57,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Up 0.3 %

NYSE PEG traded up $0.28 during trading hours on Monday, reaching $83.26. 2,446,254 shares of the company traded hands, compared to its average volume of 2,548,438. The company has a 50 day moving average of $83.48 and a two-hundred day moving average of $86.11. The stock has a market capitalization of $41.51 billion, a PE ratio of 20.46, a PEG ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 12 month low of $64.03 and a 12 month high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

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Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company's quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.54 earnings per share. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current 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 Public Service Enterprise Group stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares of the company's stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PEG shares. Scotiabank raised their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a "sector perform" rating in a research report on Thursday, December 12th. Bank of America dropped their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Barclays cut Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $88.00 to $84.00 in a report on Monday, January 27th. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a "market perform" rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company reduced their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.65.

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.