Aventail Capital Group LP Reduces Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Aventail Capital Group LP lessened its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 712,241 shares of the utilities provider’s stock after selling 29,930 shares during the period. Public Service Enterprise Group comprises about 3.3% of Aventail Capital Group LP’s investment portfolio, making the stock its 7th biggest holding. Aventail Capital Group LP’s holdings in Public Service Enterprise Group were worth $57,193,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PEG. Norges Bank bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth approximately $552,280,000. Bank of America Corp DE lifted its stake in shares of Public Service Enterprise Group by 24.7% in the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after buying an additional 3,469,886 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Public Service Enterprise Group by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock worth $5,420,155,000 after buying an additional 2,189,951 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Public Service Enterprise Group by 174.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock worth $225,704,000 after buying an additional 1,788,449 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Public Service Enterprise Group by 40.0% in the fourth quarter. Van ECK Associates Corp now owns 2,708,385 shares of the utilities provider’s stock worth $217,483,000 after buying an additional 774,256 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 1.9%

PEG opened at $79.32 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. The firm has a 50 day moving average price of $79.48 and a 200-day moving average price of $80.80. Public Service Enterprise Group Incorporated has a twelve month low of $76.05 and a twelve month high of $91.25. The stock has a market capitalization of $39.53 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 3.04 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the previous year, the company earned $1.43 earnings per share. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is presently 59.29%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the transaction, the chief executive officer directly owned 287,232 shares of the company’s stock, valued at $22,119,736.32. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,249 shares of company stock worth $498,795 over the last three months. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Truist Financial dropped their target price on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $87.50 to $84.50 in a research note on Friday, March 13th. BMO Capital Markets upped their target price on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research note on Monday, April 13th. Jefferies Financial Group downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $90.00 to $89.00 in a research note on Wednesday, April 15th. Finally, Weiss Ratings downgraded shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $93.19.

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.