California Public Employees Retirement System Has $186.39 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

California Public Employees Retirement System trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,048,070 shares of the utilities provider’s stock after selling 35,178 shares during the quarter. California Public Employees Retirement System owned 0.61% of Public Service Enterprise Group worth $186,389,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Modera Wealth Management LLC raised its position in shares of Public Service Enterprise Group by 2.6% during the third quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 170 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Public Service Enterprise Group by 0.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,686 shares of the utilities provider’s stock valued at $3,567,000 after buying an additional 177 shares during the last quarter. Strategic Investment Advisors MI raised its position in Public Service Enterprise Group by 1.0% in the 4th quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock valued at $1,071,000 after buying an additional 179 shares during the last quarter. Lido Advisors LLC raised its position in Public Service Enterprise Group by 4.1% in the 3rd quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock valued at $263,000 after buying an additional 183 shares during the last quarter. Finally, Signaturefd LLC raised its position in Public Service Enterprise Group by 2.3% in the 4th quarter. Signaturefd LLC now owns 8,495 shares of the utilities provider’s stock valued at $519,000 after buying an additional 187 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on PEG shares. Morgan Stanley reissued an “overweight” rating and issued a $70.00 price target (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Barclays increased their price target 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. Bank of America increased their price target 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 target price on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Monday. Finally, BMO Capital Markets lowered their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $67.15.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group 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 completion of the sale, 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 filing with the SEC, which is accessible through this hyperlink. In other news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group 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 completion of the sale, 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 filing with the SEC, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group 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 sale, the chief executive officer now owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The disclosure for this sale can be found here. Insiders sold 7,748 shares of company stock valued at $498,658 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Price Performance

PEG stock traded up $0.07 during mid-day trading on Tuesday, reaching $66.78. 257,798 shares of the company traded hands, compared to its average volume of 2,812,114. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. The company has a market capitalization of $33.30 billion, a P/E ratio of 13.00, a P/E/G ratio of 2.88 and a beta of 0.58. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $67.51. The company has a fifty day moving average price of $63.98 and a 200-day moving average price of $62.08.

Public Service Enterprise Group (NYSE:PEG) last posted 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. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The company’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. As a group, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s payout ratio is presently 46.78%.

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.