Public Service Enterprise Group Incorporated $PEG Shares Sold by Kennedy Investment Group

Kennedy Investment Group lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.7% during the second quarter, HoldingsChannel reports. The firm owned 22,663 shares of the utilities provider’s stock after selling 159 shares during the period. Public Service Enterprise Group accounts for 0.8% of Kennedy Investment Group’s portfolio, making the stock its 28th largest position. Kennedy Investment Group’s holdings in Public Service Enterprise Group were worth $1,908,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter worth about $32,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the first quarter worth about $33,000. Marshall & Sullivan Inc. WA purchased a new stake in shares of Public Service Enterprise Group during the second quarter worth about $33,000. Zions Bancorporation National Association UT purchased a new stake in shares of Public Service Enterprise Group during the first quarter worth about $50,000. Finally, Sound Income Strategies LLC increased its position in shares of Public Service Enterprise Group by 105.9% during the first quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 361 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.2%

NYSE:PEG opened at $82.39 on Thursday. The firm has a market capitalization of $41.12 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 2.86 and a beta of 0.50. The stock has a 50 day moving average of $84.38 and a 200-day moving average of $82.14. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. 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 (NYSE:PEG) last posted its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.70 by $0.07. The company had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio is 63.64%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Morgan Stanley reduced their target price on Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, June 18th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. BMO Capital Markets increased their target price on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a research note on Wednesday, August 6th. Barclays reduced their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, July 10th. Finally, UBS Group increased their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.55.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the transaction, the chief executive officer directly owned 218,328 shares of the company’s stock, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.19% of the company’s stock.

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.