30,100 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the fourth quarter, Holdings Channel reports. The firm bought 30,100 shares of the utilities provider’s stock, valued at approximately $1,841,000.

A number of other institutional investors also recently bought and sold shares of the stock. Operose Advisors LLC raised its position in Public Service Enterprise Group by 435.0% during the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after buying an additional 435 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in Public Service Enterprise Group during the 4th quarter worth approximately $31,000. Clear Street Markets LLC purchased a new position in Public Service Enterprise Group during the 4th quarter worth approximately $31,000. CNB Bank purchased a new position in Public Service Enterprise Group during the 3rd quarter worth approximately $34,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Public Service Enterprise Group during the 4th quarter worth approximately $36,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of recent research reports. TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Barclays lifted their target price on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Monday. Bank of America lifted their target price on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Wells Fargo & Company lifted their price target on shares of 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. Finally, Morgan Stanley reissued an “overweight” rating and issued a $70.00 price target (up previously from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.58.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the transaction, the chief executive officer now owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the transaction, the chief executive officer now owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now directly owns 31,122 shares in the company, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,948 shares of company stock valued at $510,300. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Trading Up 0.1 %

Shares of PEG opened at $65.10 on Friday. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $67.51. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. The firm’s fifty day moving average is $63.69 and its two-hundred day moving average is $61.84. The stock has a market cap of $32.46 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 2.84 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) 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 company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter in the previous year, the company posted $0.64 EPS. The firm’s quarterly revenue was down 17.0% on a year-over-year basis. Research analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

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

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.