Illinois Municipal Retirement Fund Raises Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Illinois Municipal Retirement Fund raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 155.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 64,563 shares of the utilities provider’s stock after acquiring an additional 39,273 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Public Service Enterprise Group were worth $3,948,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PEG. CWM LLC boosted its stake in Public Service Enterprise Group by 4.1% during the 3rd quarter. CWM LLC now owns 11,893 shares of the utilities provider’s stock valued at $677,000 after purchasing an additional 472 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Public Service Enterprise Group by 16.9% during the 3rd quarter. IFP Advisors Inc now owns 1,657 shares of the utilities provider’s stock valued at $94,000 after buying an additional 239 shares during the period. Czech National Bank lifted its holdings in shares of Public Service Enterprise Group by 47.7% during the 3rd quarter. Czech National Bank now owns 87,234 shares of the utilities provider’s stock valued at $4,964,000 after buying an additional 28,167 shares during the period. Spirit of America Management Corp NY lifted its holdings in shares of Public Service Enterprise Group by 35.2% during the 3rd quarter. Spirit of America Management Corp NY now owns 9,600 shares of the utilities provider’s stock valued at $546,000 after buying an additional 2,500 shares during the period. Finally, Quaker Wealth Management LLC lifted its holdings in shares of Public Service Enterprise Group by 17.9% during the 3rd quarter. Quaker Wealth Management LLC now owns 4,602 shares of the utilities provider’s stock valued at $262,000 after buying an additional 700 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Up 1.1 %

Shares of Public Service Enterprise Group stock opened at $67.23 on Thursday. The firm has a market cap of $33.52 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 2.91 and a beta of 0.58. The business has a 50-day moving average price of $64.31 and a 200-day moving average price of $62.18. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $67.51.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly 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 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 firm’s revenue was down 17.0% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s payout ratio is currently 46.78%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, 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 SEC, which can be accessed through the SEC website. In related news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction that occurred 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 completion of 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 accessible through this link. Also, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group 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 completion of the transaction, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The disclosure for this sale can be found here. Insiders sold a total of 7,948 shares of company stock valued at $511,814 over the last 90 days. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PEG. Evercore ISI increased their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. 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 report on Monday, April 15th. Guggenheim cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price on the stock. in a report on Monday, January 22nd. Bank of America raised their target price on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $67.15.

Public Service Enterprise Group Company 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.