Public Service Enterprise Group Incorporated $PEG Shares Sold by FORA Capital LLC

FORA Capital LLC trimmed its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.8% in the second quarter, Holdings Channel.com reports. The firm owned 55,653 shares of the utilities provider’s stock after selling 7,455 shares during the quarter. FORA Capital LLC’s holdings in Public Service Enterprise Group were worth $4,685,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group stock in a transaction that occurred on 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 directly owned 26,134 shares in the company, valued at approximately $2,151,612.22. The trade was a 15.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Down 0.2%

PEG opened at $78.80 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93. The company has a market capitalization of $39.33 billion, a PE ratio of 18.94, a P/E/G ratio of 2.41 and a beta of 0.59. The stock’s fifty day moving average is $81.85 and its 200-day moving average is $82.70. 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 released its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (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 firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period in the previous year, the company earned $0.90 earnings per share. Public Service Enterprise Group’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 analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is currently 60.58%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 8th. Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $89.00 to $90.00 in a research note on Thursday, November 6th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. TD Cowen boosted their price target on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, BMO Capital Markets cut 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 report on Tuesday, November 4th. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $91.35.

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.