Strs Ohio Cuts Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Strs Ohio lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,046 shares of the utilities provider’s stock after selling 502 shares during the quarter. Strs Ohio’s holdings in Public Service Enterprise Group were worth $2,815,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Modera Wealth Management LLC grew its holdings in Public Service Enterprise Group by 2.6% in the third quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 170 shares during the period. IFP Advisors Inc grew its holdings in Public Service Enterprise Group by 14.2% in the second quarter. IFP Advisors Inc now owns 1,418 shares of the utilities provider’s stock worth $89,000 after purchasing an additional 176 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Public Service Enterprise Group by 0.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,686 shares of the utilities provider’s stock worth $3,567,000 after purchasing an additional 177 shares during the period. Strategic Investment Advisors MI grew its holdings in Public Service Enterprise Group by 1.0% in the fourth quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock worth $1,071,000 after purchasing an additional 179 shares during the period. Finally, Lido Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 4.1% in the third quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock worth $263,000 after buying an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.1 %

PEG opened at $65.10 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $67.51. The company has a market capitalization of $32.46 billion, a PE ratio of 12.69, a PEG ratio of 2.84 and a beta of 0.58. The firm’s 50 day simple moving average is $63.69 and its two-hundred day simple moving average is $61.84.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same period last year, the firm earned $0.64 earnings per share. The company’s quarterly revenue was down 17.0% on a year-over-year basis. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.69%. Public Service Enterprise Group’s payout ratio is presently 46.78%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PEG shares. Morgan Stanley reiterated an “overweight” rating and issued a $70.00 target price (up previously from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. BMO Capital Markets dropped their target price on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 27th. Guggenheim downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price on the stock. in a research note on Monday, January 22nd. Finally, Barclays upped their target price on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.58.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the transaction, the chief executive officer now directly owns 152,347 shares in the company, valued at $10,111,270.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the sale, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the sale, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,948 shares of company stock worth $510,300. Company insiders own 0.57% of the company’s stock.

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.