Machina Capital S.A.S. Sells 1,204 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Machina Capital S.A.S. reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 18.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,369 shares of the utilities provider’s stock after selling 1,204 shares during the period. Machina Capital S.A.S.’s holdings in Public Service Enterprise Group were worth $328,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PEG. Vanguard Group Inc. increased its holdings in Public Service Enterprise Group by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after acquiring an additional 7,103,657 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Public Service Enterprise Group by 118.1% in the 3rd quarter. Hsbc Holdings PLC now owns 1,364,088 shares of the utilities provider’s stock valued at $77,544,000 after acquiring an additional 738,684 shares during the last quarter. Assetmark Inc. increased its holdings in Public Service Enterprise Group by 562.8% in the 3rd quarter. Assetmark Inc. now owns 869,856 shares of the utilities provider’s stock valued at $49,504,000 after acquiring an additional 738,619 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Public Service Enterprise Group by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock valued at $1,879,225,000 after acquiring an additional 726,613 shares during the last quarter. Finally, Bank of Nova Scotia grew its stake in shares of Public Service Enterprise Group by 1,350.4% in the 3rd quarter. Bank of Nova Scotia now owns 533,354 shares of the utilities provider’s stock worth $30,353,000 after buying an additional 496,581 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PEG shares. Morgan Stanley restated an “overweight” rating and issued a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Scotiabank reduced their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Guggenheim downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a report on Monday, January 22nd. BMO Capital Markets cut their price target on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a report on Tuesday, February 27th. Finally, Royal Bank of Canada upped their price target on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.15.

Public Service Enterprise Group Stock Up 0.9 %

Shares of PEG traded up $0.64 during mid-day trading on Tuesday, hitting $71.98. The company’s stock had a trading volume of 3,649,162 shares, compared to its average volume of 2,893,477. The company’s 50-day moving average is $65.79 and its 200-day moving average is $62.71. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $72.21. The firm has a market capitalization of $35.85 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 3.08 and a beta of 0.56. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The company’s revenue was down 26.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.39 EPS. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.33%. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares in the company, valued at $1,997,409.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares in the company, valued at $1,997,409.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.37, for a total transaction of $91,192.38. Following the sale, the chief executive officer now owns 152,347 shares in the company, valued at approximately $10,111,270.39. The disclosure for this sale can be found here. Insiders have sold 9,322 shares of company stock worth $607,376 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.