APG Asset Management N.V. Lowers Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

APG Asset Management N.V. decreased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,788,571 shares of the utilities provider’s stock after selling 173,046 shares during the quarter. APG Asset Management N.V.’s holdings in Public Service Enterprise Group were worth $90,100,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Intersect Capital LLC increased its holdings in shares of Public Service Enterprise Group by 2.4% in the 2nd quarter. Intersect Capital LLC now owns 6,936 shares of the utilities provider’s stock worth $414,000 after purchasing an additional 162 shares in the last quarter. South Dakota Investment Council increased its holdings in shares of Public Service Enterprise Group by 0.9% in the 1st quarter. South Dakota Investment Council now owns 20,730 shares of the utilities provider’s stock worth $1,248,000 after purchasing an additional 181 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Public Service Enterprise Group by 10.9% in the 1st quarter. Benjamin Edwards Inc. now owns 1,855 shares of the utilities provider’s stock worth $112,000 after purchasing an additional 183 shares in the last quarter. Clark Capital Management Group Inc. increased its holdings in shares of Public Service Enterprise Group by 4.8% in the 1st quarter. Clark Capital Management Group Inc. now owns 3,983 shares of the utilities provider’s stock worth $240,000 after purchasing an additional 183 shares in the last quarter. Finally, Bowling Portfolio Management LLC increased its holdings in shares of Public Service Enterprise Group by 1.3% in the 2nd quarter. Bowling Portfolio Management LLC now owns 14,438 shares of the utilities provider’s stock worth $863,000 after purchasing an additional 183 shares in the last quarter. Institutional investors and hedge funds own 70.24% of the company’s stock.

NYSE PEG opened at $60.17 on Thursday. The company has a market capitalization of $30.42 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 4.99 and a beta of 0.54. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.53 and a current ratio of 0.71. The business’s fifty day moving average is $62.65 and its 200 day moving average is $61.94. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.77 and a fifty-two week high of $65.33.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, August 3rd. The utilities provider reported $0.70 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.70. Public Service Enterprise Group had a return on equity of 11.40% and a net margin of 15.49%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the business earned $0.79 earnings per share. Public Service Enterprise Group’s quarterly revenue was down 8.6% compared to the same quarter last year. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.55 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Wednesday, September 8th were given a $0.51 dividend. The ex-dividend date was Tuesday, September 7th. This represents a $2.04 annualized dividend and a dividend yield of 3.39%. Public Service Enterprise Group’s payout ratio is 59.48%.

Several brokerages recently commented on PEG. Wells Fargo & Company cut their price objective on Public Service Enterprise Group from $75.00 to $73.00 and set an “overweight” rating for the company in a report on Tuesday, September 28th. KeyCorp lifted their price objective on Public Service Enterprise Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, August 13th. Vertical Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $67.00 to $69.00 in a report on Wednesday, September 29th. Barclays lifted their price objective on Public Service Enterprise Group from $67.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 6th. Finally, BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $65.00 to $67.00 and gave the stock a “market perform” rating in a report on Tuesday, September 28th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Buy” and a consensus target price of $69.00.

In related news, COO Ralph A. Larossa sold 4,890 shares of the business’s stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $62.85, for a total value of $307,336.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ralph Izzo sold 9,883 shares of the business’s stock in a transaction dated Friday, October 1st. The stock was sold at an average price of $60.66, for a total value of $599,502.78. The disclosure for this sale can be found here. Insiders sold 20,863 shares of company stock worth $1,298,333 over the last 90 days. Company insiders own 0.52% of the company’s stock.

Public Service Enterprise Group Profile

Public Service Enterprise Group, Inc is a holding company, which engages in the provision of electric and gas services. The firm operates through the following two segments: Public Service Electric & Gas Co (PSE&G) and PSEG Power. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas.

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

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