Los Angeles Capital Management LLC Reduces Stake in Public Service Enterprise Group Incorporated $PEG

Los Angeles Capital Management LLC lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 96.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,330 shares of the utilities provider’s stock after selling 136,911 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Public Service Enterprise Group were worth $449,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEG. Keener Financial Planning LLC bought a new position in shares of Public Service Enterprise Group in the second quarter valued at approximately $27,000. GoalVest Advisory LLC grew its position in shares of Public Service Enterprise Group by 166.7% during the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 225 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Public Service Enterprise Group during the 1st quarter valued at $32,000. Wealth Preservation Advisors LLC bought a new position in shares of Public Service Enterprise Group in the first quarter worth $33,000. Finally, Marshall & Sullivan Inc. WA purchased a new stake in shares of Public Service Enterprise Group in the second quarter worth $33,000. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $82.33, for a total value of $405,063.60. Following the completion of the sale, the senior vice president owned 26,134 shares in the company, valued at approximately $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $82.81 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The stock has a market cap of $41.34 billion, a PE ratio of 20.91, a PEG ratio of 2.46 and a beta of 0.55. The company’s fifty day moving average is $82.16 and its 200 day moving average is $82.40. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.11. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $2.80 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The company’s revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Public Service Enterprise Group in a research report on Thursday. Wells Fargo & Company initiated coverage on Public Service Enterprise Group in a research report on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price target for the company. Evercore ISI started coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price objective on the stock. Morgan Stanley lowered their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Finally, TD Cowen lifted their target price on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $91.19.

Public Service Enterprise Group Profile

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.