Public Employees Retirement System of Ohio Grows Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Public Employees Retirement System of Ohio boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 194,130 shares of the utilities provider's stock after acquiring an additional 4,142 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Public Service Enterprise Group were worth $16,402,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Transce3nd LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at about $25,000. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at $25,000. Wingate Wealth Advisors Inc. bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $35,000. OFI Invest Asset Management bought a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $39,000. Finally, Optiver Holding B.V. purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Guggenheim dropped their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Bank of America dropped their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Evercore ISI cut their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Morgan Stanley lowered their price objective on shares of Public Service Enterprise Group from $102.00 to $101.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company cut their target price on 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $89.63.

Public Service Enterprise Group Stock Up 2.0%

Shares of PEG traded up $1.56 during mid-day trading on Friday, reaching $81.11. The company had a trading volume of 1,199,299 shares, compared to its average volume of 2,746,376. 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 company has a market capitalization of $40.47 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The firm has a 50-day moving average price of $80.31 and a 200 day moving average price of $83.71. Public Service Enterprise Group Incorporated has a 52 week low of $71.89 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the company posted $1.31 earnings per share. The company's revenue for the quarter was up 16.7% compared to the same quarter last year. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.11%. Public Service Enterprise Group's dividend payout ratio is presently 68.85%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the sale, the chief executive officer now directly owns 221,093 shares in the company, valued at approximately $17,523,831.18. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company's stock.

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.