Public Service Enterprise Group Incorporated $PEG Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 48.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,882 shares of the utilities provider’s stock after selling 3,722 shares during the period. Wedbush Securities Inc.’s holdings in Public Service Enterprise Group were worth $327,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Public Service Enterprise Group by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock worth $5,247,586,000 after buying an additional 2,986,646 shares in the last quarter. Nuveen LLC acquired a new stake in Public Service Enterprise Group in the 1st quarter valued at about $95,076,000. Cbre Investment Management Listed Real Assets LLC purchased a new position in shares of Public Service Enterprise Group in the 1st quarter valued at about $68,317,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 acquiring an additional 806,782 shares in the last quarter. Finally, Reaves W H & Co. Inc. increased its holdings in Public Service Enterprise Group by 58.4% in the first quarter. Reaves W H & Co. Inc. now owns 1,312,292 shares of the utilities provider’s stock valued at $108,002,000 after buying an additional 483,682 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $82.33, for a total transaction of $405,063.60. Following the transaction, the senior vice president owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. This trade represents a 15.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $82.95 on Thursday. The firm has a market capitalization of $41.41 billion, a P/E ratio of 20.94, a P/E/G ratio of 2.46 and a beta of 0.55. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22. The company’s fifty day moving average price is $82.12 and its two-hundred day moving average price is $82.38. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. BMO Capital Markets lowered their price target on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. TD Cowen raised their price target on Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Barclays boosted their price objective on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Evercore ISI initiated coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price objective for the company. Finally, Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $91.19.

Public Service Enterprise Group Company 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.