Voya Investment Management LLC Buys 253,810 Shares of Public Service Enterprise Group Incorporated $PEG

Voya Investment Management LLC lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 18.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,645,407 shares of the utilities provider’s stock after buying an additional 253,810 shares during the period. Voya Investment Management LLC owned approximately 0.33% of Public Service Enterprise Group worth $137,155,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. TFB Advisors LLC lifted its position in Public Service Enterprise Group by 4.8% in the second quarter. TFB Advisors LLC now owns 2,611 shares of the utilities provider’s stock valued at $220,000 after purchasing an additional 119 shares during the last quarter. Massachusetts Wealth Management increased its stake in shares of Public Service Enterprise Group by 2.5% in the second quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock worth $431,000 after buying an additional 125 shares during the period. Apollon Wealth Management LLC increased its stake in shares of Public Service Enterprise Group by 0.8% in the second quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider’s stock worth $1,315,000 after buying an additional 126 shares during the period. Summit Financial LLC raised its holdings in Public Service Enterprise Group by 2.2% during the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock valued at $507,000 after buying an additional 133 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in Public Service Enterprise Group by 4.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider’s stock valued at $272,000 after buying an additional 134 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PEG. Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. UBS Group cut their target price on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays boosted their price target on Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. JPMorgan Chase & Co. dropped their price objective on Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating for the company in a report on Friday, December 12th. Finally, Wells Fargo & Company started coverage on Public Service Enterprise Group in a research note on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 target price on the stock. 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.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $80.67 on Friday. The company has a 50-day simple moving average of $81.76 and a two-hundred day simple moving average of $82.70. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. The firm has a market capitalization of $40.27 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 2.44 and a beta of 0.59. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share 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 firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the prior year, the business earned $0.90 EPS. The business’s revenue for the quarter 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, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

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

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 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.