16,498 Public Service Enterprise Group Incorporated $PEG Shares Sold by Machina Capital S.A.S.

Machina Capital S.A.S. reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 23.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,484 shares of the utilities provider’s stock after selling 16,498 shares during the quarter. Machina Capital S.A.S.’s holdings in Public Service Enterprise Group were worth $3,669,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Kestra Advisory Services LLC boosted its position in shares of Public Service Enterprise Group by 26.3% in the 1st quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider’s stock valued at $5,593,000 after purchasing an additional 14,406 shares during the period. Commerce Bank acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at approximately $3,934,000. Quantinno Capital Management LP raised its holdings in shares of Public Service Enterprise Group by 66.2% during the first quarter. Quantinno Capital Management LP now owns 359,477 shares of the utilities provider’s stock worth $29,100,000 after acquiring an additional 143,148 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth about $15,071,000. Finally, Assenagon Asset Management S.A. raised its position in Public Service Enterprise Group by 2,311.6% during the second quarter. Assenagon Asset Management S.A. now owns 386,895 shares of the utilities provider’s stock valued at $31,400,000 after acquiring an additional 370,852 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEG has been the topic of several recent research reports. Morgan Stanley cut their target price on Public Service Enterprise Group from $88.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, October 21st. Wall Street Zen cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 7th. Argus cut their price target on Public Service Enterprise Group from $90.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday, September 29th. JPMorgan Chase & Co. reduced their price objective on shares of Public Service Enterprise Group from $81.00 to $77.00 and set a “neutral” rating for the company in a report on Monday, October 19th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Service Enterprise Group in a research note on Tuesday, November 3rd. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Hold” and an average price target of $79.32.

Public Service Enterprise Group Stock Down 0.6%

PEG opened at $74.26 on Thursday. The firm’s 50-day simple moving average is $71.26 and its 200-day simple moving average is $77.83. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.01. Public Service Enterprise Group Incorporated has a twelve month low of $66.15 and a twelve month high of $87.63. The firm has a market cap of $37.02 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 2.57 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 2nd. The utilities provider reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.04). Public Service Enterprise Group had a net margin of 14.31% and a return on equity of 12.40%. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the prior year, the business earned $1.13 earnings per share. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph LaRossa sold 2,083 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $73.60, for a total transaction of $153,308.80. Following the completion of the sale, the chief executive officer owned 276,487 shares of the company’s stock, valued at approximately $20,349,443.20. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Profile

Public Service Enterprise Group (PSEG) is an energy company headquartered in New Jersey. Its principal subsidiary, Public Service Electric and Gas Company (PSE&G), provides regulated electric and natural gas service to residential, commercial and industrial customers across much of the state. PSE&G operates electric and gas transmission and distribution systems and offers energy-efficiency programs. Through its generation business, PSEG also operates nuclear power plants in New Jersey, producing electricity for the regional power market.