California Public Employees Retirement System Sells 29,153 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

California Public Employees Retirement System decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,339,431 shares of the utilities provider’s stock after selling 29,153 shares during the quarter. California Public Employees Retirement System’s holdings in Public Service Enterprise Group were worth $197,659,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wingate Wealth Advisors Inc. bought a new position in Public Service Enterprise Group in the 4th quarter valued at $35,000. OFI Invest Asset Management bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $39,000. Stonebridge Financial Group LLC purchased a new position in Public Service Enterprise Group in the 4th quarter worth about $54,000. Millstone Evans Group LLC bought a new stake in Public Service Enterprise Group during the 4th quarter valued at about $56,000. Finally, Financial Life Planners purchased a new stake in Public Service Enterprise Group in the 4th quarter valued at about $56,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Up 1.1 %

NYSE:PEG opened at $81.57 on Monday. The stock has a market capitalization of $40.67 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 52 week low of $64.03 and a 52 week high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a 50 day moving average of $83.03 and a 200 day moving average of $86.13.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $2.03 billion. During the same quarter last year, the firm earned $0.54 EPS. The business’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $0.63 dividend. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 71.19%.

Analyst Ratings Changes

PEG has been the topic of a number of research reports. BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. 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 upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Finally, Wells Fargo & Company dropped their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.65.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’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 transaction, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

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.