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

Strs Ohio decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% during the fourth quarter, HoldingsChannel reports. The firm owned 46,046 shares of the utilities provider’s stock after selling 502 shares during the period. Strs Ohio’s holdings in Public Service Enterprise Group were worth $2,815,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. D.A. Davidson & CO. grew its position in shares of Public Service Enterprise Group by 7.5% in the 1st quarter. D.A. Davidson & CO. now owns 3,657 shares of the utilities provider’s stock worth $256,000 after buying an additional 256 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Public Service Enterprise Group by 6.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,318,721 shares of the utilities provider’s stock worth $92,310,000 after buying an additional 83,174 shares during the last quarter. Prudential PLC purchased a new position in shares of Public Service Enterprise Group in the 1st quarter worth approximately $798,000. Cetera Investment Advisers grew its position in shares of Public Service Enterprise Group by 1.3% in the 1st quarter. Cetera Investment Advisers now owns 25,619 shares of the utilities provider’s stock worth $1,793,000 after buying an additional 332 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Public Service Enterprise Group in the 1st quarter worth approximately $214,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In related 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 transaction of $308,064.00. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. In related 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 transaction of $308,064.00. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the chief executive officer now directly owns 152,347 shares in the company, valued at $10,111,270.39. The disclosure for this sale can be found here. Insiders have sold 7,948 shares of company stock worth $510,300 over the last 90 days. 0.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PEG. Guggenheim downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective on the stock. in a research report on Monday, January 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 price objective (up previously from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Wells Fargo & Company upped 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, Bank of America upped their price target on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.58.

Public Service Enterprise Group Stock Up 0.1 %

NYSE:PEG opened at $65.10 on Friday. The firm has a market capitalization of $32.46 billion, a P/E ratio of 12.69, a PEG ratio of 2.84 and a beta of 0.58. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $67.51. The company’s fifty day moving average price is $63.69 and its 200-day moving average price is $61.84. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46.

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

Public Service Enterprise Group Dividend Announcement

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

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.