Twinbeech Capital LP Cuts Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Twinbeech Capital LP trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 88.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,028 shares of the utilities provider's stock after selling 111,218 shares during the quarter. Twinbeech Capital LP's holdings in Public Service Enterprise Group were worth $1,270,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PEG. Transce3nd LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at about $25,000. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at about $25,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at about $35,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at about $39,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at about $50,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PEG shares. Wall Street Zen cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective for the company. in a research report on Wednesday, March 19th. Barclays lowered their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Guggenheim lowered their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Bank of America lowered their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of "Hold" and a consensus price target of $89.63.

Public Service Enterprise Group Trading Up 0.8%

PEG stock traded up $0.66 during mid-day trading on Tuesday, reaching $79.62. The company's stock had a trading volume of 724,242 shares, compared to its average volume of 2,888,879. The company has a market cap of $39.73 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The business's 50 day moving average price is $80.55 and its 200 day moving average price is $83.84. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12 month low of $71.89 and a 12 month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting analysts' consensus estimates of $1.43. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $1.31 earnings per share. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.17%. Public Service Enterprise Group's dividend payout ratio is 68.85%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total transaction of $109,220.28. Following the transaction, the chief executive officer now owns 221,093 shares of the company's stock, valued at $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.19% of the company's stock.

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.