CSM Advisors LLC Sells 58,775 Shares of Public Service Enterprise Group Incorporated $PEG

CSM Advisors LLC lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 66.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 29,834 shares of the utilities provider’s stock after selling 58,775 shares during the period. CSM Advisors LLC’s holdings in Public Service Enterprise Group were worth $2,492,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in Public Service Enterprise Group in the 2nd quarter worth approximately $564,238,000. Bank of America Corp DE grew its stake in shares of Public Service Enterprise Group by 24.7% in the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after acquiring an additional 3,469,886 shares during the last quarter. Invesco Ltd. grew its stake in shares of Public Service Enterprise Group by 27.8% in the second quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider’s stock worth $544,973,000 after acquiring an additional 1,408,707 shares during the last quarter. Vanguard Group Inc. increased its position in Public Service Enterprise Group by 1.9% during the second quarter. Vanguard Group Inc. now owns 64,961,047 shares of the utilities provider’s stock worth $5,468,421,000 after acquiring an additional 1,199,371 shares during the period. Finally, Railway Pension Investments Ltd raised its stake in Public Service Enterprise Group by 97.5% during 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 purchasing an additional 937,100 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $84.93 on Tuesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.60 and a current ratio of 0.80. The company has a 50-day moving average of $82.19 and a 200-day moving average of $81.80. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $91.25. The company has a market capitalization of $42.36 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.72 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.68 billion. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be given a dividend of $0.67 per share. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.63. The ex-dividend date is Tuesday, March 10th. This represents a $2.68 annualized dividend and a dividend yield of 3.2%. Public Service Enterprise Group’s dividend payout ratio is 63.51%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PEG. Barclays increased their price target on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Evercore upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price for the company in a research note on Thursday, March 5th. JPMorgan Chase & Co. lifted their target price on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Wall Street Zen lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $92.00 price target on shares of Public Service Enterprise Group in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.88.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the sale, the senior vice president directly owned 28,481 shares in the company, valued at $2,363,923. This represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $83.66, for a total value of $174,263.78. Following the transaction, the chief executive officer owned 292,889 shares of the company’s stock, valued at $24,503,093.74. This represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is owned by insiders.

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.