Oregon Public Employees Retirement Fund Decreases Holdings in Public Service Enterprise Group Inc. (NYSE:PEG)

Oregon Public Employees Retirement Fund decreased its position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,388 shares of the utilities provider’s stock after selling 2,126 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Public Service Enterprise Group were worth $2,857,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Zimmer Partners LP lifted its position in Public Service Enterprise Group by 1.4% during the third quarter. Zimmer Partners LP now owns 4,588,756 shares of the utilities provider’s stock valued at $284,870,000 after acquiring an additional 62,929 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Public Service Enterprise Group by 74.4% during the third quarter. Point72 Asset Management L.P. now owns 201,233 shares of the utilities provider’s stock valued at $12,493,000 after acquiring an additional 85,847 shares during the last quarter. Stock Yards Bank & Trust Co. purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at approximately $349,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in Public Service Enterprise Group by 6.1% during the third quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,934 shares of the utilities provider’s stock valued at $1,051,000 after acquiring an additional 975 shares during the last quarter. Finally, Gradient Investments LLC lifted its position in Public Service Enterprise Group by 5.3% during the fourth quarter. Gradient Investments LLC now owns 170,450 shares of the utilities provider’s stock valued at $10,065,000 after acquiring an additional 8,628 shares during the last quarter. 69.38% of the stock is owned by institutional investors.

A number of equities research analysts recently commented on PEG shares. Mizuho increased their target price on shares of Public Service Enterprise Group from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, November 27th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $65.00 price target on shares of Public Service Enterprise Group in a report on Sunday, January 19th. Citigroup raised their price target on shares of Public Service Enterprise Group from $61.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Wolfe Research cut shares of Public Service Enterprise Group from an “outperform” rating to a “peer perform” rating and set a $64.00 price target for the company. in a report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $64.33.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 1,650 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $58.73, for a total value of $96,904.50. Following the completion of the transaction, the chief operating officer now owns 74,419 shares of the company’s stock, valued at $4,370,627.87. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Daniel J. Cregg sold 625 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $58.59, for a total transaction of $36,618.75. Following the completion of the transaction, the chief financial officer now directly owns 54,648 shares of the company’s stock, valued at approximately $3,201,826.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,125 shares of company stock valued at $241,849. Corporate insiders own 0.51% of the company’s stock.

NYSE PEG opened at $58.48 on Friday. The company has a fifty day simple moving average of $58.99 and a two-hundred day simple moving average of $59.93. The stock has a market cap of $29.51 billion, a P/E ratio of 18.24, a P/E/G ratio of 4.93 and a beta of 0.26. Public Service Enterprise Group Inc. has a 12-month low of $55.27 and a 12-month high of $63.88. The company has a current ratio of 0.75, a quick ratio of 0.52 and a debt-to-equity ratio of 0.99.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

Further Reading: Understanding debt-to-equity ratio in fundamental analysis

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

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