M&G PLC Has $634,000 Stock Holdings in Public Service Enterprise Group Incorporated $PEG

M&G PLC trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 58.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,547 shares of the utilities provider’s stock after selling 10,659 shares during the period. M&G PLC’s holdings in Public Service Enterprise Group were worth $634,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Keener Financial Planning LLC acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at about $27,000. GoalVest Advisory LLC increased its holdings in Public Service Enterprise Group by 166.7% in the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after buying an additional 225 shares during the last quarter. Headlands Technologies LLC bought a new position in Public Service Enterprise Group during the first quarter valued at approximately $32,000. Marshall & Sullivan Inc. WA acquired a new stake in Public Service Enterprise Group in the second quarter valued at approximately $33,000. Finally, Wealth Preservation Advisors LLC acquired a new stake in Public Service Enterprise Group in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PEG shares. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. TD Cowen upped their price objective on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Evercore ISI initiated coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 target price on the stock. BTIG Research initiated coverage on Public Service Enterprise Group in a report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price on the stock. Finally, Morgan Stanley reduced 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. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.19.

Insider Activity at Public Service Enterprise Group

In other 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 transaction of $405,063.60. Following the completion of the transaction, the senior vice president directly owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. This trade represents a 15.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $82.35 on Friday. The firm has a market capitalization of $41.11 billion, a PE ratio of 20.80, a PEG ratio of 2.46 and a beta of 0.55. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The business’s 50 day moving average is $82.13 and its 200-day moving average is $82.38.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results 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 return on equity of 12.08% and a net margin of 17.78%.The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period last year, the business 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.

About Public Service Enterprise Group

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.