Twinbeech Capital LP Has $1.27 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Twinbeech Capital LP lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 88.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,028 shares of the utilities provider’s stock after selling 111,218 shares during the period. Twinbeech Capital LP’s holdings in Public Service Enterprise Group were worth $1,270,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Merit Financial Group LLC raised its stake in shares of Public Service Enterprise Group by 35.0% in the fourth quarter. Merit Financial Group LLC now owns 10,747 shares of the utilities provider’s stock worth $908,000 after purchasing an additional 2,787 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in Public Service Enterprise Group by 3.6% during the fourth quarter. Arkadios Wealth Advisors now owns 5,584 shares of the utilities provider’s stock worth $472,000 after buying an additional 192 shares in the last quarter. Ameritas Advisory Services LLC raised its position in Public Service Enterprise Group by 63.4% in the 4th quarter. Ameritas Advisory Services LLC now owns 4,591 shares of the utilities provider’s stock valued at $388,000 after buying an additional 1,781 shares during the last quarter. UMB Bank n.a. lifted its stake in Public Service Enterprise Group by 8.4% during the 4th quarter. UMB Bank n.a. now owns 8,842 shares of the utilities provider’s stock valued at $747,000 after acquiring an additional 682 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Public Service Enterprise Group by 6.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,343 shares of the utilities provider’s stock worth $705,000 after acquiring an additional 507 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the sale, the chief executive officer now directly owns 221,670 shares in the company, valued at approximately $18,372,009.60. The trade was a 0.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $77.94 on Thursday. The company has a market capitalization of $38.89 billion, a P/E ratio of 19.15, a P/E/G ratio of 2.78 and a beta of 0.48. The business has a fifty day simple moving average of $80.80 and a two-hundred day simple moving average of $83.95. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 1 year low of $71.89 and a 1 year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting the consensus estimate of $1.43. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.31 EPS. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.23%. Public Service Enterprise Group’s dividend payout ratio is 68.85%.

Analyst Ratings Changes

Several analysts have recently commented on PEG shares. BMO Capital Markets lowered their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a report on Thursday, April 10th. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Wells Fargo & Company cut their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Bank of America reduced their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Guggenheim dropped their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $88.81.

About Public Service Enterprise Group

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.