Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 226.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,959 shares of the utilities provider's stock after purchasing an additional 66,575 shares during the period. Teacher Retirement System of Texas' holdings in Public Service Enterprise Group were worth $7,897,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in PEG. Jones Financial Companies Lllp lifted its position in Public Service Enterprise Group by 44.4% in the fourth quarter. Jones Financial Companies Lllp now owns 6,034 shares of the utilities provider's stock valued at $510,000 after purchasing an additional 1,856 shares during the period. Keybank National Association OH boosted its position in Public Service Enterprise Group by 6.6% during the fourth quarter. Keybank National Association OH now owns 7,838 shares of the utilities provider's stock worth $662,000 after purchasing an additional 485 shares in the last quarter. Victory Capital Management Inc. boosted its position in Public Service Enterprise Group by 29.4% during the fourth quarter. Victory Capital Management Inc. now owns 509,946 shares of the utilities provider's stock worth $43,085,000 after purchasing an additional 115,731 shares in the last quarter. M&T Bank Corp boosted its position in Public Service Enterprise Group by 1.8% during the fourth quarter. M&T Bank Corp now owns 38,351 shares of the utilities provider's stock worth $3,239,000 after purchasing an additional 681 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter worth $12,251,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Up 0.6%

Shares of PEG stock traded up $0.47 during trading hours on Friday, reaching $81.69. The company had a trading volume of 2,018,416 shares, compared to its average volume of 2,782,448. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. Public Service Enterprise Group Incorporated has a twelve month low of $73.72 and a twelve month high of $95.22. The company has a market capitalization of $40.76 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 2.91 and a beta of 0.48. The stock's fifty day simple moving average is $80.43 and its 200 day simple moving average is $82.25.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the firm earned $1.31 EPS. Public Service Enterprise Group's quarterly revenue was up 16.7% on a year-over-year basis. As a group, sell-side analysts expect 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 firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.09%. Public Service Enterprise Group's payout ratio is 68.85%.

Insiders Place Their Bets

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 completion of the sale, the chief executive officer owned 218,328 shares in the company, valued at $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PEG has been the topic of a number of research analyst reports. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. Evercore ISI decreased their price objective on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley decreased their price objective on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. Barclays decreased their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, Guggenheim decreased their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $89.54.

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.