Twin Capital Management Inc. Has $7.02 Million Holdings in Public Service Enterprise Group Inc. (NYSE:PEG)

Twin Capital Management Inc. lessened its stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 33.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,410 shares of the utilities provider’s stock after selling 59,700 shares during the quarter. Twin Capital Management Inc.’s holdings in Public Service Enterprise Group were worth $7,024,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in PEG. Ceredex Value Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the first quarter valued at approximately $147,966,000. Nordea Investment Management AB boosted its holdings in shares of Public Service Enterprise Group by 42.7% in the first quarter. Nordea Investment Management AB now owns 6,496,557 shares of the utilities provider’s stock valued at $385,966,000 after buying an additional 1,942,914 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Public Service Enterprise Group by 16.0% in the first quarter. AQR Capital Management LLC now owns 5,443,816 shares of the utilities provider’s stock valued at $321,130,000 after buying an additional 752,831 shares during the period. Jennison Associates LLC boosted its holdings in shares of Public Service Enterprise Group by 94.8% in the first quarter. Jennison Associates LLC now owns 1,107,621 shares of the utilities provider’s stock valued at $65,804,000 after buying an additional 539,167 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in shares of Public Service Enterprise Group by 18.2% in the first quarter. California Public Employees Retirement System now owns 3,258,390 shares of the utilities provider’s stock valued at $193,581,000 after buying an additional 501,333 shares during the period. Institutional investors own 68.78% of the company’s stock.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 52,407 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $58.78, for a total value of $3,080,483.46. Following the transaction, the chairman now directly owns 419,818 shares in the company, valued at $24,676,902.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Ralph A. Larossa sold 1,650 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $58.80, for a total transaction of $97,020.00. Following the completion of the transaction, the chief operating officer now owns 85,068 shares in the company, valued at $5,001,998.40. The disclosure for this sale can be found here. Insiders have sold 163,421 shares of company stock worth $9,493,650 over the last ninety days. Insiders own 0.51% of the company’s stock.

Several research analysts have recently weighed in on PEG shares. Barclays started coverage on shares of Public Service Enterprise Group in a report on Tuesday. They issued an “overweight” rating and a $63.00 price target for the company. Bank of America cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Friday, July 19th. UBS Group set a $67.00 price objective on shares of Public Service Enterprise Group and gave the stock a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lowered shares of Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $64.00 to $62.00 in a research report on Tuesday, April 23rd. Finally, Mizuho boosted their price objective on shares of Public Service Enterprise Group from $61.50 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Public Service Enterprise Group presently has an average rating of “Buy” and an average price target of $62.46.

NYSE PEG traded up $0.36 on Thursday, hitting $57.67. 64,560 shares of the stock were exchanged, compared to its average volume of 2,662,405. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.79 and a quick ratio of 0.59. The business has a fifty day simple moving average of $58.94. Public Service Enterprise Group Inc. has a 52 week low of $49.22 and a 52 week high of $61.63. The stock has a market capitalization of $28.94 billion, a P/E ratio of 18.53, a PEG ratio of 7.78 and a beta of 0.33.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.04). Public Service Enterprise Group had a return on equity of 11.02% and a net margin of 14.41%. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period last year, the company posted $0.64 earnings per share. On average, equities analysts expect that Public Service Enterprise Group Inc. will post 3.24 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.26%. The ex-dividend date is Friday, September 6th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 60.26%.

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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