California State Teachers Retirement System Acquires 8,536 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

California State Teachers Retirement System grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 984,274 shares of the utilities provider's stock after purchasing an additional 8,536 shares during the period. California State Teachers Retirement System owned approximately 0.20% of Public Service Enterprise Group worth $83,161,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Center for Financial Planning Inc. raised its position in shares of Public Service Enterprise Group by 3.0% during the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider's stock worth $349,000 after purchasing an additional 120 shares during the period. Spire Wealth Management boosted its position in shares of Public Service Enterprise Group by 2.4% in the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider's stock valued at $440,000 after purchasing an additional 121 shares during the period. United Asset Strategies Inc. raised its holdings in Public Service Enterprise Group by 2.6% during the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider's stock worth $416,000 after buying an additional 127 shares during the period. Fifth Third Bancorp raised its holdings in Public Service Enterprise Group by 0.4% during the 4th quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider's stock worth $2,990,000 after buying an additional 139 shares during the period. Finally, Larson Financial Group LLC lifted its stake in Public Service Enterprise Group by 10.1% during the fourth quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider's stock valued at $128,000 after buying an additional 139 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock traded up $0.86 during trading on Friday, reaching $79.52. The company's stock had a trading volume of 2,203,339 shares, compared to its average volume of 2,714,128. Public Service Enterprise Group Incorporated has a one year low of $69.71 and a one year high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The firm has a market cap of $39.65 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. The business's fifty day moving average price is $81.27 and its 200-day moving average price is $84.97.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the company earned $1.31 earnings per share. The company's quarterly revenue was up 16.7% compared to the same quarter last year. As a group, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.17%. Public Service Enterprise Group's dividend payout ratio is currently 71.19%.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the sale, the chief executive officer now directly owns 221,670 shares of the company's stock, valued at approximately $18,372,009.60. The trade was a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 4,134 shares of company stock worth $337,941. Company insiders own 0.19% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PEG shares. Bank of America lowered their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Morgan Stanley increased their price objective on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Guggenheim reduced their target price on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research note on Thursday. Wells Fargo & Company dropped their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Finally, StockNews.com lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $88.81.

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.