RWC Asset Management LLP raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 3.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 296,752 shares of the utilities provider’s stock after acquiring an additional 10,834 shares during the period. RWC Asset Management LLP’s holdings in Public Service Enterprise Group were worth $19,983,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Public Service Enterprise Group during the second quarter valued at approximately $4,366,570,000. Bank of America Corp DE bought a new position in shares of Public Service Enterprise Group during the second quarter worth $1,207,400,000. Legal & General Group Plc purchased a new position in Public Service Enterprise Group during the second quarter valued at $554,994,000. Bank of New York Mellon Corp bought a new stake in Public Service Enterprise Group in the 2nd quarter valued at $221,632,000. Finally, Amundi increased its holdings in Public Service Enterprise Group by 71.6% in the 2nd quarter. Amundi now owns 3,962,317 shares of the utilities provider’s stock valued at $321,580,000 after acquiring an additional 1,653,832 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts have commented on PEG shares. Truist Financial decreased their price target on shares of Public Service Enterprise Group from $84.00 to $78.00 and set a “hold” rating on the stock in a research note on Thursday, October 15th. Weiss Ratings lowered Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Jefferies Financial Group decreased their target price on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. HSBC initiated coverage on Public Service Enterprise Group in a research note on Thursday. They set a “hold” rating and a $72.50 price target for the company. Finally, JPMorgan Chase & Co. cut their price target on Public Service Enterprise Group from $81.00 to $77.00 and set a “neutral” rating for the company in a report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $86.07.
View Our Latest Analysis on Public Service Enterprise Group
Insider Activity
In related news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $67.48, for a total value of $140,560.84. Following the completion of the transaction, the chief executive officer owned 279,490 shares in the company, valued at approximately $18,859,985.20. This trade represents a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the transaction, the senior vice president owned 20,970 shares of the company’s stock, valued at approximately $1,563,523.20. This represents a 27.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,166 shares of company stock worth $896,328 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.
Public Service Enterprise Group Price Performance
PEG traded down $0.73 during trading hours on Friday, hitting $71.99. The company’s stock had a trading volume of 2,448,381 shares, compared to its average volume of 4,302,398. The stock has a market cap of $35.88 billion, a price-to-earnings ratio of 17.91, a P/E/G ratio of 2.73 and a beta of 0.50. The business’s 50-day moving average price is $71.40 and its 200-day moving average price is $76.55. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 12 month low of $66.15 and a 12 month high of $87.63.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the business earned $0.77 earnings per share. Public Service Enterprise Group’s quarterly revenue was down 8.9% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 4.38 earnings per share for the current fiscal year.
About Public Service Enterprise Group
Public Service Enterprise Group Incorporated (NYSE: PEG), commonly known as PSEG, is an energy company headquartered in Newark, New Jersey. Through its subsidiaries, the company is primarily involved in electric and natural gas utility operations, power generation, and related energy services.
Public Service Electric & Gas Company (PSE&G), PSEG’s principal utility subsidiary, serves residential, commercial, and industrial customers throughout New Jersey. Its activities include the transmission and distribution of electricity, the distribution of natural gas, energy-efficiency programs, and infrastructure modernization.
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