State of Tennessee Department of Treasury Raises Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

State of Tennessee Department of Treasury boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 6.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 212,816 shares of the utilities provider's stock after acquiring an additional 13,802 shares during the quarter. State of Tennessee Department of Treasury's holdings in Public Service Enterprise Group were worth $17,981,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Transce3nd LLC purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. acquired a new stake in Public Service Enterprise Group during the 4th quarter valued at approximately $35,000. OFI Invest Asset Management purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at $39,000. Nemes Rush Group LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $53,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter worth $54,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction on 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 sale, the chief executive officer now directly owns 126,791 shares of the company's stock, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PEG. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target on the stock. in a research report on Wednesday, March 19th. StockNews.com raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Wednesday, April 16th. Barclays decreased their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Morgan Stanley raised their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Finally, Bank of America decreased their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $89.35.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $81.99 on Wednesday. The firm has a market cap of $40.88 billion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. The stock has a 50 day moving average of $81.78 and a two-hundred day moving average of $85.36. Public Service Enterprise Group Incorporated has a 12 month low of $65.36 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.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company earned $0.54 EPS. The firm's revenue was down 5.4% compared to the same quarter last year. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.07%. Public Service Enterprise Group's payout ratio is 71.19%.

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.

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