Public Service Enterprise Group Inc. (NYSE:PEG) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP reduced its stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 9.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,373,989 shares of the utilities provider’s stock after selling 242,200 shares during the period. Two Sigma Advisers LP owned approximately 0.47% of Public Service Enterprise Group worth $116,705,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEG. Cornerstone Advisors Inc. boosted its stake in shares of Public Service Enterprise Group by 11.0% during the 2nd quarter. Cornerstone Advisors Inc. now owns 2,003 shares of the utilities provider’s stock valued at $98,000 after buying an additional 199 shares during the period. Taylor Cottrill Erickson & Associates Inc. lifted its stake in shares of Public Service Enterprise Group by 1.0% in the 2nd quarter. Taylor Cottrill Erickson & Associates Inc. now owns 20,876 shares of the utilities provider’s stock valued at $1,026,000 after purchasing an additional 200 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Public Service Enterprise Group by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 21,700 shares of the utilities provider’s stock valued at $1,067,000 after purchasing an additional 200 shares during the last quarter. Parisi Gray Wealth Management lifted its stake in shares of Public Service Enterprise Group by 1.5% in the 2nd quarter. Parisi Gray Wealth Management now owns 13,688 shares of the utilities provider’s stock valued at $673,000 after purchasing an additional 201 shares during the last quarter. Finally, MV Capital Management Inc. lifted its stake in shares of Public Service Enterprise Group by 18.0% in the 2nd quarter. MV Capital Management Inc. now owns 1,362 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 68.23% of the company’s stock.

Several research firms recently issued reports on PEG. UBS Group reduced their price objective on shares of Public Service Enterprise Group from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Seaport Global Securities assumed coverage on shares of Public Service Enterprise Group in a research report on Wednesday, May 20th. They set a “neutral” rating for the company. Bank of America boosted their target price on shares of Public Service Enterprise Group from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Morgan Stanley boosted their target price on shares of Public Service Enterprise Group from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Finally, BofA Securities lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $55.00 to $57.00 in a research report on Tuesday, July 21st. Eight analysts have rated the stock with 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 an average price target of $61.77.

In other news, COO Ralph A. Larossa sold 1,919 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $55.05, for a total transaction of $105,640.95. Following the completion of the sale, the chief operating officer now owns 88,766 shares of the company’s stock, valued at $4,886,568.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 6,357 shares of company stock valued at $345,959 in the last three months. 0.48% of the stock is owned by insiders.

Public Service Enterprise Group stock traded up $1.35 during trading hours on Wednesday, hitting $53.00. 2,192,767 shares of the stock were exchanged, compared to its average volume of 2,957,090. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.51 and a current ratio of 0.65. The stock has a market capitalization of $26.81 billion, a P/E ratio of 15.50, a P/E/G ratio of 6.41 and a beta of 0.54. Public Service Enterprise Group Inc. has a 12 month low of $34.75 and a 12 month high of $63.88. The business’s 50-day moving average is $53.60 and its two-hundred day moving average is $50.46.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Friday, July 31st. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.19. Public Service Enterprise Group had a net margin of 18.09% and a return on equity of 11.52%. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the business earned $0.58 earnings per share. Public Service Enterprise Group’s quarterly revenue was down 11.5% on a year-over-year basis. On average, equities analysts predict that Public Service Enterprise Group Inc. will post 3.36 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Tuesday, September 8th. Public Service Enterprise Group’s dividend payout ratio is 59.76%.

Public Service Enterprise Group Profile

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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