Machina Capital S.A.S. Makes New $887,000 Investment in Public Service Enterprise Group Inc. (NYSE:PEG)

Machina Capital S.A.S. acquired a new position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,086 shares of the utilities provider’s stock, valued at approximately $887,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in Public Service Enterprise Group by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,159,933 shares of the utilities provider’s stock valued at $60,365,000 after purchasing an additional 72,965 shares in the last quarter. Geode Capital Management LLC increased its stake in Public Service Enterprise Group by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 6,527,327 shares of the utilities provider’s stock valued at $339,147,000 after purchasing an additional 489,501 shares in the last quarter. Jane Street Group LLC bought a new stake in Public Service Enterprise Group during the 4th quarter valued at about $237,000. Norges Bank bought a new stake in Public Service Enterprise Group during the 4th quarter valued at about $179,057,000. Finally, American Century Companies Inc. increased its stake in Public Service Enterprise Group by 0.9% during the 4th quarter. American Century Companies Inc. now owns 218,541 shares of the utilities provider’s stock valued at $11,375,000 after purchasing an additional 1,973 shares in the last quarter. 68.76% of the stock is owned by institutional investors.

Shares of NYSE PEG traded up $0.11 during trading on Wednesday, reaching $58.00. 874,937 shares of the company traded hands, compared to its average volume of 2,063,064. The firm’s 50 day moving average price is $59.94. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.68 and a quick ratio of 0.52. The stock has a market capitalization of $30.09 billion, a PE ratio of 18.59, a PEG ratio of 4.68 and a beta of 0.38. Public Service Enterprise Group Inc. has a 52-week low of $49.22 and a 52-week high of $61.63.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.04). The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.23 billion. Public Service Enterprise Group had a net margin of 16.03% and a return on equity of 11.35%. During the same period in the previous year, the business earned $0.64 EPS. As a group, equities research analysts forecast that Public Service Enterprise Group Inc. will post 3.25 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Friday, September 6th. Public Service Enterprise Group’s payout ratio is presently 60.26%.

A number of analysts have weighed in on PEG shares. KeyCorp started coverage on shares of Southern in a research note on Tuesday, June 4th. They set a “sector weight” rating for the company. Bank of America set a $224.00 price objective on shares of Facebook and gave the company a “buy” rating in a research note on Friday, July 19th. Citigroup raised their price objective on shares of Atlantica Yield from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. set a €54.00 ($62.79) price objective on shares of Axel Springer and gave the company a “neutral” rating in a research note on Tuesday, April 23rd. Finally, Mizuho raised their price objective on shares of Public Service Enterprise Group from $61.50 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $61.83.

In other news, VP Daniel J. Cregg sold 625 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $60.92, for a total transaction of $38,075.00. Following the sale, the vice president now owns 60,833 shares of the company’s stock, valued at approximately $3,705,946.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Ralph Izzo sold 52,407 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $58.78, for a total transaction of $3,080,483.46. Following the sale, the chairman now directly owns 419,818 shares in the company, valued at approximately $24,676,902.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,989 shares of company stock worth $6,439,752. Insiders own 0.51% of the company’s stock.

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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