Public Service Enterprise Group Incorporated $PEG Shares Sold by Strs Ohio

Strs Ohio trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 71.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,941 shares of the utilities provider’s stock after selling 29,770 shares during the period. Strs Ohio’s holdings in Public Service Enterprise Group were worth $997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in PEG. Norges Bank purchased a new stake in Public Service Enterprise Group during the second quarter worth approximately $564,238,000. Bank of America Corp DE raised its holdings in Public Service Enterprise Group by 24.7% during 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 purchasing an additional 3,469,886 shares in the last quarter. Invesco Ltd. lifted its position in shares of Public Service Enterprise Group by 27.8% during the 2nd quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider’s stock worth $544,973,000 after buying an additional 1,408,707 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Public Service Enterprise Group by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 64,961,047 shares of the utilities provider’s stock valued at $5,468,421,000 after buying an additional 1,199,371 shares in the last quarter. Finally, Railway Pension Investments Ltd boosted its holdings in shares of Public Service Enterprise Group by 97.5% in the 3rd quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock valued at $158,390,000 after buying an additional 937,100 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the transaction, the senior vice president directly owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. The trade was a 15.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $81.26 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $91.25. The firm has a 50-day simple moving average of $80.11 and a 200-day simple moving average of $82.27. The company has a market capitalization of $40.56 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 2.61 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the prior year, the business earned $0.90 EPS. The firm’s revenue was up 22.1% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.58%.

Analyst Upgrades and Downgrades

PEG has been the topic of several research analyst reports. Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $89.00 to $90.00 in a research note on Thursday, November 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $85.00 target price (down previously from $88.00) on shares of Public Service Enterprise Group in a research report on Thursday, January 22nd. Wells Fargo & Company raised Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $88.00 to $92.00 in a research report on Tuesday, January 20th. BMO Capital Markets dropped their price target on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 4th. Finally, Evercore ISI assumed coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $90.96.

Public Service Enterprise Group Company 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.