Public Service Enterprise Group Incorporated $PEG Stock Holdings Cut by CPC Advisors LLC

CPC Advisors LLC lessened its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 33.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,817 shares of the utilities provider’s stock after selling 6,477 shares during the period. CPC Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,070,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC bought a new stake in Public Service Enterprise Group in the second quarter worth about $25,000. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at about $25,000. Keener Financial Planning LLC acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $27,000. Cedar Mountain Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $27,000. Finally, GoalVest Advisory LLC lifted its stake in Public Service Enterprise Group by 166.7% during the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 225 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Activity

In other 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 transaction of $405,063.60. Following the transaction, the senior vice president directly owned 26,134 shares in the company, valued at $2,151,612.22. The trade was a 15.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Up 0.2%

NYSE:PEG opened at $78.75 on Wednesday. The business’s fifty day moving average price is $80.75 and its 200 day moving average price is $82.48. The firm has a market capitalization of $39.31 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 2.22 and a beta of 0.60. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the company posted $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were given a $0.63 dividend. The ex-dividend date was Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.2%. Public Service Enterprise Group’s dividend payout ratio is presently 60.58%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target on Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. Jefferies Financial Group raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $89.00 to $90.00 in a research report on Thursday, November 6th. Morgan Stanley decreased their price target on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. TD Cowen boosted their price objective on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price objective for the company in a research note on Wednesday, January 7th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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.