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

Machina Capital S.A.S. lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 23.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 54,484 shares of the utilities provider’s stock after selling 16,498 shares during the period. 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Advisory Services LLC lifted its position in Public Service Enterprise Group by 26.3% during the 1st quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider’s stock worth $5,593,000 after buying an additional 14,406 shares in the last quarter. Commerce Bank bought a new stake in Public Service Enterprise Group during the 2nd quarter worth about $3,934,000. Quantinno Capital Management LP increased its position in Public Service Enterprise Group by 66.2% in the 1st quarter. Quantinno Capital Management LP now owns 359,477 shares of the utilities provider’s stock valued at $29,100,000 after acquiring an additional 143,148 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $15,071,000. Finally, Assenagon Asset Management S.A. increased its position in Public Service Enterprise Group by 2,311.6% in the 2nd 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 currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $74.26 on Thursday. The business’s 50-day simple moving average is $71.26 and its 200 day simple moving average is $77.83. The stock has a market cap of $37.02 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 2.57 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 12-month low of $66.15 and a 12-month high of $87.63. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 1.39.

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

Wall Street Analyst Weigh In

PEG has been the subject of a number of research analyst reports. HSBC began coverage on shares of Public Service Enterprise Group in a research note on Thursday, October 22nd. They issued a “hold” rating and a $72.50 target price for the company. Wells Fargo & Company decreased their price target on shares of Public Service Enterprise Group from $89.00 to $87.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 3rd. Citigroup lowered their price target on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Jefferies Financial Group dropped their price objective on shares of Public Service Enterprise Group from $73.00 to $69.00 and set a “hold” rating for the company in a research report on Friday, October 9th. Finally, Bank of America reduced their price objective on Public Service Enterprise Group from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. Seven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $79.32.

Insider Activity

In other news, CEO Ralph LaRossa sold 2,083 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $73.60, for a total value of $153,308.80. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.19% of the company’s stock.

About Public Service Enterprise Group

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.