New York State Common Retirement Fund Raises Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

New York State Common Retirement Fund lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 8.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 276,068 shares of the utilities provider's stock after purchasing an additional 21,886 shares during the period. New York State Common Retirement Fund owned 0.06% of Public Service Enterprise Group worth $22,720,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Centre Asset Management LLC raised its position in Public Service Enterprise Group by 3.2% in the first quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock worth $324,000 after acquiring an additional 121 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Public Service Enterprise Group by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider's stock worth $3,523,000 after purchasing an additional 130 shares in the last quarter. Apella Capital LLC increased its stake in shares of Public Service Enterprise Group by 2.7% in the first quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider's stock worth $443,000 after purchasing an additional 144 shares in the last quarter. Net Worth Advisory Group increased its stake in shares of Public Service Enterprise Group by 5.6% in the first quarter. Net Worth Advisory Group now owns 2,809 shares of the utilities provider's stock worth $231,000 after purchasing an additional 148 shares in the last quarter. Finally, Horizon Investments LLC increased its stake in shares of Public Service Enterprise Group by 1.8% in the fourth quarter. Horizon Investments LLC now owns 8,995 shares of the utilities provider's stock worth $760,000 after purchasing an additional 155 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Trading Up 1.0%

Shares of PEG traded up $0.78 during mid-day trading on Thursday, reaching $82.95. The company's stock had a trading volume of 1,023,487 shares, compared to its average volume of 2,766,619. The stock has a market cap of $41.39 billion, a PE ratio of 22.67, a P/E/G ratio of 2.93 and a beta of 0.48. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25. Public Service Enterprise Group Incorporated has a 52 week low of $73.72 and a 52 week high of $95.22. The company's fifty day moving average price is $80.81 and its two-hundred day moving average price is $82.10.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. 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 prior year, the business posted $1.31 EPS. The firm's revenue was up 16.7% compared to the same quarter last year. On average, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.04%. Public Service Enterprise Group's dividend payout ratio is currently 68.85%.

Wall Street Analysts Forecast Growth

PEG has been the subject of several recent research reports. Morgan Stanley reduced their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. UBS Group upgraded shares of Public Service Enterprise Group from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $86.00 to $97.00 in a research note on Monday, July 7th. Evercore ISI reduced their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective for the company. in a research note on Wednesday, March 19th. Finally, BMO Capital Markets reduced their price objective on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research note on Thursday, April 10th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $89.86.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the transaction, the chief executive officer directly owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. The trade was a 0.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate insiders.

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.