Teacher Retirement System of Texas Acquires 14,800 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Teacher Retirement System of Texas lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 101.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,384 shares of the utilities provider’s stock after purchasing an additional 14,800 shares during the period. Teacher Retirement System of Texas’ holdings in Public Service Enterprise Group were worth $2,483,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. bought a new stake in Public Service Enterprise Group in the fourth quarter worth about $35,000. OFI Invest Asset Management purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $39,000. Stonebridge Financial Group LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $54,000. Financial Life Planners purchased a new position in Public Service Enterprise Group in the fourth quarter valued at approximately $56,000. Finally, Brown Lisle Cummings Inc. bought a new position in Public Service Enterprise Group during the fourth quarter valued at $57,000. 73.34% of the stock is currently owned by institutional investors.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Monday, February 3rd. The shares were 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 $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $81.48 on Thursday. The company has a market capitalization of $40.62 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.78 and a beta of 0.60. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a 52-week low of $64.03 and a 52-week high of $95.22. The company has a fifty day moving average of $83.31 and a 200-day moving average of $86.09.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 earnings per share. As a group, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PEG shares. Scotiabank boosted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Morgan Stanley upped their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Wells Fargo & Company reduced their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Bank of America cut their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $89.65.

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.