Centre Asset Management LLC Makes New $436,000 Investment in Public Service Enterprise Group Inc. (NYSE:PEG)

Centre Asset Management LLC bought a new position in Public Service Enterprise Group Inc. (NYSE:PEG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,019 shares of the utilities provider’s stock, valued at approximately $436,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEG. Vanguard Group Inc. boosted its holdings in shares of Public Service Enterprise Group by 2.8% in the second quarter. Vanguard Group Inc. now owns 41,902,158 shares of the utilities provider’s stock valued at $2,464,685,000 after acquiring an additional 1,129,724 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Public Service Enterprise Group by 2.2% in the second quarter. Northern Trust Corp now owns 6,303,262 shares of the utilities provider’s stock valued at $370,758,000 after acquiring an additional 136,854 shares in the last quarter. Zimmer Partners LP boosted its holdings in shares of Public Service Enterprise Group by 11.9% in the second quarter. Zimmer Partners LP now owns 4,525,827 shares of the utilities provider’s stock valued at $266,209,000 after acquiring an additional 481,107 shares in the last quarter. Pictet Asset Management Ltd. boosted its holdings in shares of Public Service Enterprise Group by 14.8% in the second quarter. Pictet Asset Management Ltd. now owns 4,348,826 shares of the utilities provider’s stock valued at $255,798,000 after acquiring an additional 562,238 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Public Service Enterprise Group by 7.5% in the second quarter. Invesco Ltd. now owns 3,940,778 shares of the utilities provider’s stock valued at $231,795,000 after acquiring an additional 273,795 shares in the last quarter. Hedge funds and other institutional investors own 69.44% of the company’s stock.

PEG stock traded up $0.08 on Monday, hitting $62.37. 1,268,630 shares of the company’s stock traded hands, compared to its average volume of 2,521,092. Public Service Enterprise Group Inc. has a 1-year low of $49.22 and a 1-year high of $63.88. The stock has a market cap of $31.37 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 6.37 and a beta of 0.30. The stock has a fifty day moving average of $61.47 and a 200-day moving average of $59.87. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 0.99.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.04). Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the company earned $0.64 earnings per share. On average, equities research analysts anticipate that Public Service Enterprise Group Inc. will post 3.25 earnings per share for the current fiscal year.

PEG has been the subject of several recent analyst reports. UBS Group increased their price objective on shares of Public Service Enterprise Group from $67.00 to $71.00 and gave the company a “buy” rating in a report on Friday, September 6th. Barclays initiated coverage on shares of Public Service Enterprise Group in a report on Tuesday, August 13th. They issued an “overweight” rating and a $63.00 price objective for the company. ValuEngine cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price for the company. in a research note on Monday, July 29th. Finally, Mizuho increased their target price on shares of Public Service Enterprise Group from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $63.00.

In related news, CFO Daniel J. Cregg sold 625 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $61.90, for a total transaction of $38,687.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Ralph A. Larossa sold 1,650 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $57.15, for a total transaction of $94,297.50. Following the completion of the sale, the chief operating officer now owns 81,768 shares of the company’s stock, valued at approximately $4,673,041.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,608 shares of company stock valued at $3,548,667. Company insiders own 0.51% of the company’s stock.

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.

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

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