State of Alaska Department of Revenue Sells 6,446 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

State of Alaska Department of Revenue decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 10.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 56,810 shares of the utilities provider's stock after selling 6,446 shares during the quarter. State of Alaska Department of Revenue's holdings in Public Service Enterprise Group were worth $4,799,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PEG. Jennison Associates LLC raised its position in shares of Public Service Enterprise Group by 125.3% during the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock worth $285,982,000 after acquiring an additional 1,882,667 shares during the last quarter. FMR LLC increased its stake in Public Service Enterprise Group by 19.4% during the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock worth $481,825,000 after purchasing an additional 877,345 shares in the last quarter. Raymond James & Associates raised its holdings in Public Service Enterprise Group by 30.1% during the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider's stock worth $255,954,000 after buying an additional 663,012 shares during the period. National Bank of Canada FI lifted its stake in Public Service Enterprise Group by 376.3% in the third quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider's stock valued at $72,321,000 after buying an additional 640,485 shares in the last quarter. Finally, Verition Fund Management LLC increased its position in shares of Public Service Enterprise Group by 179.5% during the third quarter. Verition Fund Management LLC now owns 706,884 shares of the utilities provider's stock worth $63,061,000 after acquiring an additional 453,985 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

Insiders Place Their Bets

In related news, COO Kim C. Hanemann sold 956 shares of the business's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now owns 70,011 shares in the company, valued at $6,307,290.99. The trade was a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 126,791 shares of the company's stock, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,712 shares of company stock worth $317,644 over the last three months. Insiders own 0.57% of the company's stock.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock traded down $0.14 during trading hours on Tuesday, reaching $83.75. 2,341,534 shares of the stock were exchanged, compared to its average volume of 2,209,609. The stock has a 50 day moving average of $85.77 and a two-hundred day moving average of $85.61. The company has a market cap of $41.73 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a twelve month low of $57.40 and a twelve month high of $95.22.

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 given a dividend of $0.63 per share. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.01%. Public Service Enterprise Group's payout ratio is currently 58.97%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PEG. BMO Capital Markets increased their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a "market perform" rating in a report on Monday, October 21st. Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Barclays downgraded Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Guggenheim reiterated a "buy" rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Finally, Scotiabank increased their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a "sector perform" rating in a report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $88.83.

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.