MGO One Seven LLC cut its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 34.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,737 shares of the utilities provider’s stock after selling 9,896 shares during the quarter. MGO One Seven LLC’s holdings in Public Service Enterprise Group were worth $1,505,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in PEG. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group in the second quarter valued at $25,000. Quest 10 Wealth Builders Inc. boosted its stake in shares of Public Service Enterprise Group by 250.5% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 248 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Public Service Enterprise Group during the third quarter valued at $43,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Public Service Enterprise Group during the fourth quarter worth about $44,000. Finally, TFC Financial Management Inc. lifted its position in Public Service Enterprise Group by 3,000.0% during the fourth quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider’s stock worth $47,000 after buying an additional 570 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the company. Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective on the stock in a report on Thursday, March 5th. Jefferies Financial Group lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $90.00 to $89.00 in a research note on Wednesday, April 15th. JPMorgan Chase & Co. raised their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Argus upgraded Public Service Enterprise Group to a “strong-buy” rating in a research note on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $93.42.
Insiders Place Their Bets
In other news, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total transaction of $390,100.00. Following the transaction, the senior vice president owned 28,481 shares in the company, valued at approximately $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Friday, May 1st. The shares were sold at an average price of $81.21, for a total value of $169,160.43. Following the transaction, the chief executive officer owned 289,315 shares in the company, valued at $23,495,271.15. This represents a 0.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,949 shares of company stock worth $902,747 over the last 90 days. Insiders own 0.19% of the company’s stock.
Public Service Enterprise Group Stock Up 0.6%
PEG opened at $77.61 on Tuesday. Public Service Enterprise Group Incorporated has a one year low of $76.00 and a one year high of $91.25. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The stock’s fifty day moving average is $81.60 and its 200-day moving average is $81.48. The company has a market capitalization of $38.67 billion, a PE ratio of 17.17, a P/E/G ratio of 2.91 and a beta of 0.53.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the previous year, the business earned $1.43 EPS. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.
Public Service Enterprise Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is presently 59.29%.
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.
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