State of Tennessee Department of Treasury Has $17.98 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

State of Tennessee Department of Treasury raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 212,816 shares of the utilities provider's stock after acquiring an additional 13,802 shares during the quarter. State of Tennessee Department of Treasury's holdings in Public Service Enterprise Group were worth $17,981,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Public Service Enterprise Group by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider's stock valued at $5,134,882,000 after purchasing an additional 492,517 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Public Service Enterprise Group by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock valued at $1,027,725,000 after acquiring an additional 365,666 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Public Service Enterprise Group by 10.2% during the 4th quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider's stock valued at $551,323,000 after acquiring an additional 604,978 shares in the last quarter. Norges Bank acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $445,005,000. Finally, Capital Research Global Investors grew its position in Public Service Enterprise Group by 0.3% during the 4th quarter. Capital Research Global Investors now owns 4,756,965 shares of the utilities provider's stock worth $401,916,000 after acquiring an additional 15,332 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Down 0.5 %

NYSE PEG traded down $0.40 during trading hours on Monday, hitting $80.63. 563,717 shares of the company's stock were exchanged, compared to its average volume of 2,803,296. The firm has a market cap of $40.20 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 2.78 and a beta of 0.52. The stock has a 50-day simple moving average of $81.62 and a 200 day simple moving average of $85.15. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 1-year low of $66.57 and a 1-year high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm posted $0.54 EPS. The company's quarterly revenue was down 5.4% on a year-over-year basis. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a dividend of $0.63 per share. 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 3.13%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 71.19%.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PEG has been the subject of several research reports. Barclays dropped their target price on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company dropped their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Guggenheim reissued a "buy" rating and set a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. StockNews.com raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Wednesday, April 16th. Finally, Bank of America cut their price target on shares of 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. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and an average target price of $89.35.

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.