Twin Capital Management Inc. Increases Stake in Public Service Enterprise Group Inc. (PEG)

Share on StockTwits

Twin Capital Management Inc. lifted its holdings in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,210 shares of the utilities provider’s stock after acquiring an additional 5,880 shares during the period. Twin Capital Management Inc.’s holdings in Public Service Enterprise Group were worth $9,486,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PEG. Wells Fargo & Company MN grew its position in shares of Public Service Enterprise Group by 3.6% during the first quarter. Wells Fargo & Company MN now owns 2,768,255 shares of the utilities provider’s stock worth $139,077,000 after acquiring an additional 97,141 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Public Service Enterprise Group by 128.8% during the first quarter. Daiwa Securities Group Inc. now owns 35,580 shares of the utilities provider’s stock worth $1,788,000 after purchasing an additional 20,026 shares during the period. Dupont Capital Management Corp lifted its holdings in shares of Public Service Enterprise Group by 68.9% during the first quarter. Dupont Capital Management Corp now owns 5,322 shares of the utilities provider’s stock worth $267,000 after purchasing an additional 2,171 shares during the period. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Public Service Enterprise Group by 81.3% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 9,587 shares of the utilities provider’s stock worth $482,000 after purchasing an additional 4,298 shares during the period. Finally, Comerica Bank lifted its holdings in shares of Public Service Enterprise Group by 0.6% during the first quarter. Comerica Bank now owns 196,362 shares of the utilities provider’s stock worth $9,824,000 after purchasing an additional 1,183 shares during the period. Institutional investors and hedge funds own 68.40% of the company’s stock.

Several equities research analysts recently weighed in on the company. Goldman Sachs Group downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $55.00 to $53.00 in a report on Thursday, July 19th. ValuEngine raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Citigroup increased their price target on Public Service Enterprise Group from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, July 9th. Morgan Stanley increased their price target on Public Service Enterprise Group from $57.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, May 25th. Finally, Deutsche Bank downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Public Service Enterprise Group currently has a consensus rating of “Buy” and a consensus price target of $52.83.

Public Service Enterprise Group stock opened at $52.80 on Wednesday. Public Service Enterprise Group Inc. has a one year low of $45.05 and a one year high of $54.50. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.52. The firm has a market capitalization of $26.45 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 2.83 and a beta of 0.32.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Wednesday, August 1st. The utilities provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. Public Service Enterprise Group had a return on equity of 11.03% and a net margin of 23.69%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter last year, the company earned $0.62 earnings per share. analysts predict that Public Service Enterprise Group Inc. will post 3.09 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Thursday, September 6th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 61.43%.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 20,833 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $50.60, for a total value of $1,054,149.80. Following the completion of the sale, the chairman now owns 557,716 shares of the company’s stock, valued at $28,220,429.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.58% of the stock is currently owned by company insiders.

Public Service Enterprise Group Profile

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; and 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.

Further Reading: Risk Tolerance and Your Investment Decisions

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply