Illinois Municipal Retirement Fund Has $3.95 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Illinois Municipal Retirement Fund raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 155.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,563 shares of the utilities provider's stock after acquiring an additional 39,273 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Public Service Enterprise Group were worth $3,948,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Operose Advisors LLC increased its position in Public Service Enterprise Group by 435.0% in the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 435 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in Public Service Enterprise Group during the 4th quarter worth approximately $36,000. CNB Bank acquired a new stake in Public Service Enterprise Group during the 3rd quarter worth approximately $34,000. Anchor Investment Management LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $37,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Public Service Enterprise Group during the fourth quarter worth $42,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Scotiabank reduced their price objective on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a "sector perform" rating for the company in a research report on Monday. Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an "overweight" rating in a research note on Tuesday, March 19th. Royal Bank of Canada upped their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, March 7th. Guggenheim cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $61.00 price target on the stock. in a report on Monday, January 22nd. Finally, BMO Capital Markets cut their price target on Public Service Enterprise Group from $64.00 to $63.00 and set a "market perform" rating on the stock in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Public Service Enterprise Group currently has an average rating of "Moderate Buy" and an average price target of $67.15.

Public Service Enterprise Group Stock Up 1.3 %

NYSE PEG traded up $0.86 on Thursday, reaching $68.09. The company had a trading volume of 2,526,913 shares, compared to its average volume of 2,841,935. The stock has a market capitalization of $33.95 billion, a P/E ratio of 13.11, a P/E/G ratio of 2.91 and a beta of 0.58. The company's fifty day moving average is $64.31 and its 200 day moving average is $62.18. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $68.31. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same period last year, the firm posted $0.64 EPS. The business's revenue was down 17.0% compared to the same quarter last year. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.52%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 46.78%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares in the company, valued at approximately $9,684,423. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares in the company, valued at approximately $9,684,423. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares of the company's stock, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. Insiders sold a total of 7,948 shares of company stock worth $511,814 in the last quarter. 0.57% of the stock is owned by company insiders.

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.