Louisiana State Employees Retirement System Has $1.35 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Louisiana State Employees Retirement System boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,400 shares of the utilities provider’s stock after buying an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Public Service Enterprise Group were worth $1,351,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PEG. BlackRock Inc. raised its stake in Public Service Enterprise Group by 4,031.7% in the first quarter. BlackRock Inc. now owns 48,379,255 shares of the utilities provider’s stock valued at $2,145,620,000 after buying an additional 47,208,334 shares during the period. Vanguard Group Inc. raised its stake in Public Service Enterprise Group by 3.4% in the first quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock valued at $1,554,116,000 after buying an additional 1,144,077 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in Public Service Enterprise Group by 133.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,710,401 shares of the utilities provider’s stock valued at $75,939,000 after buying an additional 976,720 shares during the period. Canada Pension Plan Investment Board raised its stake in Public Service Enterprise Group by 423.3% in the first quarter. Canada Pension Plan Investment Board now owns 912,237 shares of the utilities provider’s stock valued at $40,458,000 after buying an additional 737,900 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in Public Service Enterprise Group by 413.5% in the first quarter. BNP Paribas Arbitrage SA now owns 773,583 shares of the utilities provider’s stock valued at $34,308,000 after buying an additional 622,934 shares during the period. 66.42% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Incorporated (NYSE:PEG) opened at 44.72 on Friday. Public Service Enterprise Group Incorporated has a 12-month low of $39.28 and a 12-month high of $46.68. The firm has a market capitalization of $22.62 billion, a P/E ratio of 43.00 and a beta of 0.38. The firm has a 50 day moving average of $43.62 and a 200 day moving average of $44.04.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Friday, April 28th. The utilities provider reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Public Service Enterprise Group had a return on equity of 11.17% and a net margin of 5.86%. During the same period in the previous year, the business posted $0.91 EPS. On average, analysts forecast that Public Service Enterprise Group Incorporated will post $2.90 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Thursday, September 7th. Public Service Enterprise Group’s payout ratio is 165.39%.

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Several analysts have issued reports on PEG shares. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Public Service Enterprise Group in a research report on Wednesday, May 10th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research report on Tuesday, June 27th. Deutsche Bank AG dropped their price target on shares of Public Service Enterprise Group from $49.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, April 11th. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Tuesday, July 4th. Finally, Barclays PLC dropped their price target on shares of Public Service Enterprise Group from $49.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Public Service Enterprise Group presently has a consensus rating of “Hold” and a consensus price target of $47.10.

In other news, COO Ralph A. Larossa sold 24,021 shares of Public Service Enterprise Group stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $43.55, for a total transaction of $1,046,114.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Ralph Izzo sold 30,000 shares of Public Service Enterprise Group stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $42.83, for a total value of $1,284,900.00. Following the sale, the chairman now owns 748,121 shares in the company, valued at $32,042,022.43. The disclosure for this sale can be found here. Insiders have sold a total of 86,021 shares of company stock worth $3,733,335 over the last quarter. Company insiders own 0.61% of the company’s stock.

Public Service Enterprise Group Company 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.