Public Service Enterprise Group Incorporated $PEG Stake Lessened by Creative Planning

Creative Planning cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,678 shares of the utilities provider’s stock after selling 2,719 shares during the period. Creative Planning’s holdings in Public Service Enterprise Group were worth $11,000,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PEG. Vanguard Group Inc. raised its stake in shares of Public Service Enterprise Group by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock valued at $5,247,586,000 after purchasing an additional 2,986,646 shares in the last quarter. Geode Capital Management LLC increased its holdings in Public Service Enterprise Group by 0.9% in the second quarter. Geode Capital Management LLC now owns 12,526,776 shares of the utilities provider’s stock valued at $1,049,973,000 after buying an additional 110,087 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Public Service Enterprise Group by 2.3% during the first quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider’s stock valued at $600,317,000 after buying an additional 162,261 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Public Service Enterprise Group by 20.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider’s stock worth $395,354,000 after buying an additional 806,782 shares during the last quarter. Finally, Raymond James Financial Inc. grew its position in shares of Public Service Enterprise Group by 5.2% in the 1st quarter. Raymond James Financial Inc. now owns 4,683,338 shares of the utilities provider’s stock worth $385,439,000 after acquiring an additional 230,636 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $82.41 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a market capitalization of $41.13 billion, a PE ratio of 20.81, a P/E/G ratio of 2.46 and a beta of 0.55. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The business’s fifty day moving average price is $82.26 and its two-hundred day moving average price is $82.46.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be paid a $0.63 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 60.58%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PEG shares. UBS Group upped their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 25th. BTIG Research initiated coverage on shares of Public Service Enterprise Group in a report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Public Service Enterprise Group in a report on Thursday, November 13th. Jefferies Financial Group raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $89.00 to $90.00 in a research report on Thursday, November 6th. Finally, Wells Fargo & Company initiated coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 28th. They issued an “equal weight” rating and a $88.00 target price on the stock. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.19.

Insider Buying and Selling at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the transaction, the senior vice president directly owned 26,134 shares in the company, valued at approximately $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Profile

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.