Alpha Paradigm Partners LLC Has $362,000 Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Alpha Paradigm Partners LLC boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 33.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,058 shares of the utilities provider’s stock after buying an additional 1,502 shares during the quarter. Alpha Paradigm Partners LLC’s holdings in Public Service Enterprise Group were worth $362,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PEG. Price T Rowe Associates Inc. MD raised its position in Public Service Enterprise Group by 15.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,192,545 shares of the utilities provider’s stock valued at $1,817,893,000 after purchasing an additional 4,055,897 shares during the last quarter. Franklin Resources Inc. raised its position in Public Service Enterprise Group by 99.4% in the first quarter. Franklin Resources Inc. now owns 4,390,981 shares of the utilities provider’s stock valued at $264,381,000 after purchasing an additional 2,188,676 shares during the last quarter. Bank of Montreal Can raised its position in Public Service Enterprise Group by 211.5% in the second quarter. Bank of Montreal Can now owns 1,435,304 shares of the utilities provider’s stock valued at $86,564,000 after purchasing an additional 974,470 shares during the last quarter. OLD Republic International Corp raised its position in Public Service Enterprise Group by 82.4% in the second quarter. OLD Republic International Corp now owns 1,217,500 shares of the utilities provider’s stock valued at $72,733,000 after purchasing an additional 550,000 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in Public Service Enterprise Group by 36.6% in the first quarter. APG Asset Management N.V. now owns 1,961,617 shares of the utilities provider’s stock valued at $100,493,000 after purchasing an additional 525,220 shares during the last quarter. 70.24% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:PEG opened at $60.17 on Thursday. The business’s 50 day moving average is $62.65 and its 200 day moving average is $61.94. The stock has a market cap of $30.42 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 4.99 and a beta of 0.54. Public Service Enterprise Group Incorporated has a 12-month low of $53.77 and a 12-month high of $65.33. The company has a quick ratio of 0.53, a current ratio of 0.71 and a debt-to-equity ratio of 0.97.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, August 3rd. The utilities provider reported $0.70 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.70. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $2.31 billion. Public Service Enterprise Group had a return on equity of 11.40% and a net margin of 15.49%. Public Service Enterprise Group’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same period last year, the company posted $0.79 earnings per share. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.55 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Wednesday, September 8th were paid 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 presently 59.48%.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 4,890 shares of the business’s stock in a transaction on Monday, August 2nd. The stock was sold at an average price of $62.85, for a total value of $307,336.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph Izzo sold 9,883 shares of the business’s stock in a transaction on Friday, October 1st. The shares were 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. Over the last 90 days, insiders sold 20,863 shares of company stock worth $1,298,333. Corporate insiders own 0.52% of the company’s stock.

Several equities analysts have commented on PEG shares. KeyCorp increased their target price on Public Service Enterprise Group from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, August 13th. Mizuho lifted their target price on Public Service Enterprise Group from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company reduced their price objective on Public Service Enterprise Group from $75.00 to $73.00 and set an “overweight” rating for the company in a research note on Tuesday, September 28th. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $65.00 to $67.00 and gave the company a “market perform” rating in a research note on Tuesday, September 28th. They noted that the move was a valuation call. Finally, Vertical Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $67.00 to $69.00 in a research note on Wednesday, September 29th. 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 has an average rating of “Buy” and an average target price of $69.00.

Public Service Enterprise Group Company 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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