Ajo LP reduced its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,329,554 shares of the utilities provider’s stock after selling 276,044 shares during the period. Ajo LP owned about 0.66% of Public Service Enterprise Group worth $143,204,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Parallel Advisors LLC increased its holdings in Public Service Enterprise Group by 0.8% during the first quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock valued at $114,000 after buying an additional 20 shares during the last quarter. Premier Asset Management LLC increased its holdings in Public Service Enterprise Group by 0.6% during the second quarter. Premier Asset Management LLC now owns 5,356 shares of the utilities provider’s stock valued at $230,000 after buying an additional 31 shares during the last quarter. Cutter & CO Brokerage Inc. increased its holdings in Public Service Enterprise Group by 0.5% during the first quarter. Cutter & CO Brokerage Inc. now owns 8,304 shares of the utilities provider’s stock valued at $368,000 after buying an additional 38 shares during the last quarter. Advisor Partners LLC increased its stake in shares of Public Service Enterprise Group by 0.5% in the second quarter. Advisor Partners LLC now owns 10,106 shares of the utilities provider’s stock worth $435,000 after purchasing an additional 48 shares in the last quarter. Finally, FCG Advisors LLC increased its stake in shares of Public Service Enterprise Group by 0.4% in the second quarter. FCG Advisors LLC now owns 12,005 shares of the utilities provider’s stock worth $516,000 after purchasing an additional 52 shares in the last quarter. 65.97% of the stock is owned by institutional investors and hedge funds.

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Public Service Enterprise Group Incorporated (NYSE:PEG) traded up 0.11% during trading on Monday, reaching $46.50. 324,530 shares of the company traded hands. The firm has a 50-day moving average price of $45.98 and a 200-day moving average price of $44.62. The company has a market capitalization of $23.52 billion, a P/E ratio of 52.25 and a beta of 0.39. Public Service Enterprise Group Incorporated has a 52 week low of $39.28 and a 52 week high of $47.47.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.05. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the previous year, the business posted $0.57 EPS. Analysts forecast that Public Service Enterprise Group Incorporated will post $2.92 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio is currently 193.26%.

In related news, Chairman Ralph Izzo sold 23,400 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $45.23, for a total value of $1,058,382.00. Following the completion of the sale, the chairman now owns 748,474 shares of the company’s stock, valued at approximately $33,853,479.02. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Derek M. Dirisio sold 1,500 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total transaction of $70,665.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,900 shares of company stock valued at $2,413,947. Company insiders own 0.61% of the company’s stock.

PEG has been the subject of a number of analyst reports. BidaskClub raised shares of Public Service Enterprise Group from a “strong sell” rating to a “sell” rating in a research note on Monday, July 24th. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Public Service Enterprise Group in a research note on Tuesday, June 27th. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $49.00 price objective (up from $44.00) on shares of Public Service Enterprise Group in a research note on Thursday, August 10th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $48.38.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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

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