SG Americas Securities LLC Trims Stock Position in Public Service Enterprise Group Incorporated $PEG

SG Americas Securities LLC decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 50.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,232 shares of the utilities provider’s stock after selling 40,080 shares during the quarter. SG Americas Securities LLC’s holdings in Public Service Enterprise Group were worth $3,274,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. JARISLOWSKY FRASER Ltd lifted its holdings in shares of Public Service Enterprise Group by 107.1% in the third quarter. JARISLOWSKY FRASER Ltd now owns 1,025,305 shares of the utilities provider’s stock worth $85,572,000 after buying an additional 530,248 shares in the last quarter. Railway Pension Investments Ltd increased its holdings in 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 acquiring an additional 937,100 shares during the last quarter. Voya Investment Management LLC lifted its stake in Public Service Enterprise Group by 18.2% in the 3rd quarter. Voya Investment Management LLC now owns 1,645,407 shares of the utilities provider’s stock worth $137,155,000 after purchasing an additional 253,810 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Public Service Enterprise Group by 22.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 73,542 shares of the utilities provider’s stock valued at $6,192,000 after purchasing an additional 13,540 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Public Service Enterprise Group during the second quarter valued at about $564,238,000. 73.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 value of $405,063.60. Following the completion of the sale, the senior vice president owned 26,134 shares of the company’s stock, valued at $2,151,612.22. This trade represents a 15.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $78.61 on Tuesday. The business’s 50 day moving average price is $80.82 and its 200-day moving average price is $82.52. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $91.25. The company has a market cap of $39.24 billion, a P/E ratio of 18.90, a P/E/G ratio of 2.22 and a beta of 0.60. 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 (NYSE:PEG) last posted its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period in the previous year, the firm earned $0.90 earnings per share. Public Service Enterprise Group’s quarterly 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. Sell-side analysts predict 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 declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.2%. The ex-dividend date was Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is presently 60.58%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PEG. BMO Capital Markets cut 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. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price for the company in a research report on Wednesday, January 7th. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. Morgan Stanley decreased 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 research note on Thursday, September 25th. Finally, Barclays lifted 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 note on Tuesday, October 21st. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.35.

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.