Public Service Enterprise Group Incorporated $PEG Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 46.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 188,464 shares of the utilities provider’s stock after selling 160,517 shares during the quarter. AMF Tjanstepension AB’s holdings in Public Service Enterprise Group were worth $15,729,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in shares of Public Service Enterprise Group by 10.3% during the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after purchasing an additional 940 shares during the period. Woodline Partners LP boosted its holdings in Public Service Enterprise Group by 40.7% during the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock worth $3,464,000 after buying an additional 12,172 shares in the last quarter. Ballentine Partners LLC grew its position in Public Service Enterprise Group by 15.3% during the second quarter. Ballentine Partners LLC now owns 3,406 shares of the utilities provider’s stock worth $287,000 after buying an additional 452 shares during the period. Mather Group LLC. increased its holdings in Public Service Enterprise Group by 11.2% in the second quarter. Mather Group LLC. now owns 4,008 shares of the utilities provider’s stock valued at $337,000 after buying an additional 404 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its holdings in Public Service Enterprise Group by 2.9% in the second quarter. Perigon Wealth Management LLC now owns 7,683 shares of the utilities provider’s stock valued at $647,000 after buying an additional 218 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $78.28 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $91.25. 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 firm has a 50 day moving average price of $80.21 and a 200 day moving average price of $82.31. The company has a market cap of $39.07 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 2.54 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. 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 Announces Dividend

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

Insider Buying and Selling at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group 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 sale, the senior vice president owned 26,134 shares of the company’s stock, valued at $2,151,612.22. The trade was a 15.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PEG shares. Wells Fargo & Company raised Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $88.00 to $92.00 in a research note on Tuesday, January 20th. BMO Capital Markets lowered their target price 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. Evercore ISI assumed coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target for the company. Barclays decreased their price objective on shares of Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and raised their target price for the company from $89.00 to $90.00 in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.96.

About Public Service Enterprise Group

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.