New York State Common Retirement Fund Has $30.10 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

New York State Common Retirement Fund reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.6% in the 4th quarter, according to the company in its most recent filing with the 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 owned approximately 0.10% of Public Service Enterprise Group worth $30,096,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Foster & Motley Inc. acquired a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $249,000. Jennison Associates LLC lifted its holdings in Public Service Enterprise Group by 79.9% in the 4th quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock worth $54,757,000 after purchasing an additional 397,606 shares during the last quarter. Duality Advisers LP lifted its holdings in shares of Public Service Enterprise Group by 716.0% during the fourth quarter. Duality Advisers LP now owns 45,811 shares of the utilities provider’s stock worth $2,801,000 after buying an additional 40,197 shares during the last quarter. CWM LLC lifted its holdings in shares of Public Service Enterprise Group by 21.8% during the fourth quarter. CWM LLC now owns 14,487 shares of the utilities provider’s stock worth $886,000 after buying an additional 2,594 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Public Service Enterprise Group by 2.3% during the fourth quarter. Signaturefd LLC now owns 8,495 shares of the utilities provider’s stock worth $519,000 after buying an additional 187 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $68.09 on Friday. The business’s fifty day moving average price is $64.48 and its two-hundred day moving average price is $62.22. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $68.31. The stock has a market capitalization of $33.95 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 2.94 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46.

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

Public Service Enterprise Group Dividend Announcement

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

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the transaction, the chief executive officer now owns 153,721 shares of the company’s stock, valued at $9,684,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,948 shares of company stock worth $511,814. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Evercore ISI upped their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Morgan Stanley reiterated an “overweight” rating and set a $70.00 price target (up from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Bank of America boosted their price objective on Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Scotiabank lowered their price objective on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday. Finally, Barclays boosted their price objective on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.15.

About Public Service Enterprise Group

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.