Municipal Employees Retirement System of Michigan held its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the first quarter, Holdings Channel reports. The fund owned 16,220 shares of the utilities provider’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Public Service Enterprise Group were worth $719,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PEG. LMR Partners LLP purchased a new position in shares of Public Service Enterprise Group during the first quarter valued at $578,000. Burney Co. boosted its position in Public Service Enterprise Group by 4.3% in the first quarter. Burney Co. now owns 146,983 shares of the utilities provider’s stock worth $6,519,000 after buying an additional 5,994 shares during the last quarter. Schafer Cullen Capital Management Inc. boosted its position in Public Service Enterprise Group by 2.8% in the first quarter. Schafer Cullen Capital Management Inc. now owns 31,704 shares of the utilities provider’s stock worth $1,406,000 after buying an additional 876 shares during the last quarter. Kempen Capital Management N.V. boosted its position in Public Service Enterprise Group by 6.5% in the first quarter. Kempen Capital Management N.V. now owns 521,676 shares of the utilities provider’s stock worth $23,136,000 after buying an additional 32,050 shares during the last quarter. Finally, ARGI Investment Services LLC boosted its position in Public Service Enterprise Group by 3.5% in the first quarter. ARGI Investment Services LLC now owns 46,704 shares of the utilities provider’s stock worth $2,071,000 after buying an additional 1,595 shares during the last quarter. 66.51% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Public Service Enterprise Group Incorporated (PEG) traded down 0.02% during mid-day trading on Tuesday, reaching $44.25. 145,586 shares of the company’s stock were exchanged. The stock has a market cap of $22.39 billion, a price-to-earnings ratio of 42.55 and a beta of 0.39. The stock has a 50 day moving average price of $44.03 and a 200 day moving average price of $44.04. Public Service Enterprise Group Incorporated has a 52 week low of $39.28 and a 52 week high of $46.81.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Friday, April 28th. The utilities provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.08. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates 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 company posted $0.91 EPS. Equities research analysts predict that Public Service Enterprise Group Incorporated will post $2.89 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 9th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Wednesday, June 7th. Public Service Enterprise Group’s dividend payout ratio is currently 165.39%.

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A number of research firms have commented on PEG. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Public Service Enterprise Group in a research report on Wednesday, May 10th. Barclays PLC upped their target price on shares of Public Service Enterprise Group from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 25th. Mizuho began coverage on shares of Public Service Enterprise Group in a research report on Wednesday, April 19th. They issued a “neutral” rating and a $44.50 target price on the stock. Deutsche Bank AG decreased their target price 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. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $46.50 target price (up previously from $43.50) on shares of Public Service Enterprise Group in a research report on Monday, February 27th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $46.90.

In other news, COO Ralph A. Larossa sold 24,021 shares of Public Service Enterprise Group stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $43.55, for a total value of $1,046,114.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Derek M. Dirisio sold 2,000 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $43.86, for a total value of $87,720.00. The disclosure for this sale can be found here. Insiders sold a total of 86,021 shares of company stock worth $3,772,635 over the last ninety days. Corporate 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.

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