Nvwm LLC Sells 7,004 Shares of Public Service Enterprise Group Incorporated $PEG

Nvwm LLC reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 50.8% in the third quarter, Holdings Channel.com reports. The fund owned 6,796 shares of the utilities provider’s stock after selling 7,004 shares during the quarter. Nvwm LLC’s holdings in Public Service Enterprise Group were worth $567,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PEG. Twin Peaks Wealth Advisors LLC purchased a new stake in Public Service Enterprise Group in the 2nd quarter worth approximately $25,000. Chapman Financial Group LLC purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at $25,000. Keener Financial Planning LLC bought a new position in shares of Public Service Enterprise Group in the second quarter worth $27,000. GoalVest Advisory LLC raised its position in shares of Public Service Enterprise Group by 166.7% in the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after buying an additional 225 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA purchased a new stake in shares of Public Service Enterprise Group in the second quarter worth $33,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on PEG shares. TD Cowen boosted their target price on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Evercore ISI initiated coverage on Public Service Enterprise Group in a research note on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price target for the company. Wells Fargo & Company started coverage on Public Service Enterprise Group in a report on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price objective on the stock. Finally, UBS Group dropped their target price on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.96.

Insider Buying and Selling at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $82.33, for a total value of $405,063.60. Following the sale, the senior vice president directly owned 26,134 shares of the company’s stock, valued at $2,151,612.22. This trade represents a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Down 0.4%

NYSE PEG opened at $80.40 on Friday. The firm has a market cap of $40.13 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 2.45 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $91.25. The stock has a 50-day moving average of $81.45 and a 200-day moving average of $82.71. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the previous year, the firm earned $0.90 EPS. The business’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. As a group, sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is 60.58%.

Public Service Enterprise Group Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.