Public Employees Retirement System of Ohio Has $10.22 Million Position in Public Service Enterprise Group Incorporated (PEG)

Public Employees Retirement System of Ohio decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 220,995 shares of the utilities provider’s stock after selling 3,477 shares during the period. Public Employees Retirement System of Ohio’s holdings in Public Service Enterprise Group were worth $10,221,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. lifted its stake in Public Service Enterprise Group by 4.1% in the second quarter. Bessemer Group Inc. now owns 6,377 shares of the utilities provider’s stock worth $274,000 after acquiring an additional 254 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Public Service Enterprise Group by 5.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,785,634 shares of the utilities provider’s stock worth $76,801,000 after acquiring an additional 89,984 shares during the period. Dupont Capital Management Corp purchased a new stake in Public Service Enterprise Group in the second quarter worth $182,000. Legal & General Group Plc lifted its position in Public Service Enterprise Group by 5.6% during the second quarter. Legal & General Group Plc now owns 3,140,935 shares of the utilities provider’s stock valued at $135,094,000 after buying an additional 167,240 shares during the period. Finally, KBC Group NV lifted its position in Public Service Enterprise Group by 1.2% during the second quarter. KBC Group NV now owns 54,191 shares of the utilities provider’s stock valued at $2,331,000 after buying an additional 617 shares during the period. Hedge funds and other institutional investors own 66.67% of the company’s stock.

Public Service Enterprise Group Incorporated (NYSE:PEG) traded up $0.60 during midday trading on Thursday, reaching $50.00. The company had a trading volume of 4,507,511 shares, compared to its average volume of 4,482,972. The stock has a market cap of $25,300.00, a PE ratio of 49.02, a PEG ratio of 6.06 and a beta of 0.41. Public Service Enterprise Group Incorporated has a one year low of $41.67 and a one year high of $53.28. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 0.86.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Public Service Enterprise Group had a return on equity of 11.33% and a net margin of 5.73%. The firm’s revenue was down 7.6% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. sell-side analysts predict that Public Service Enterprise Group Incorporated will post 2.93 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 8th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Thursday, December 7th. Public Service Enterprise Group’s dividend payout ratio is currently 168.63%.

In related news, insider Derek M. Dirisio sold 2,185 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $51.50, for a total transaction of $112,527.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Ralph Izzo sold 20,833 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $52.90, for a total value of $1,102,065.70. Following the sale, the chairman now owns 687,600 shares of the company’s stock, valued at $36,374,040. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,031 shares of company stock worth $9,241,504. Corporate insiders own 0.61% of the company’s stock.

PEG has been the subject of several recent research reports. Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Thursday, September 14th. Morgan Stanley raised Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a research report on Thursday, September 21st. They noted that the move was a valuation call. Barclays raised Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $49.00 to $51.00 in a research report on Friday, September 22nd. Evercore ISI raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $46.75 to $50.00 in a research report on Monday, September 25th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $47.00 price objective on shares of Public Service Enterprise Group in a report on Tuesday, October 10th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Public Service Enterprise Group currently has an average rating of “Buy” and an average price target of $51.32.

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Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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