SG Americas Securities LLC Trims Holdings in Public Service Enterprise Group Incorporated $PEG

SG Americas Securities LLC trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 50.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,232 shares of the utilities provider’s stock after selling 40,080 shares during the quarter. SG Americas Securities LLC’s holdings in Public Service Enterprise Group were worth $3,274,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Public Service Enterprise Group by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 64,961,047 shares of the utilities provider’s stock valued at $5,468,421,000 after buying an additional 1,199,371 shares in the last quarter. State Street Corp increased its position in shares of Public Service Enterprise Group by 0.8% during the second quarter. State Street Corp now owns 27,330,736 shares of the utilities provider’s stock worth $2,300,701,000 after acquiring an additional 206,843 shares during the period. Bank of America Corp DE raised its stake in shares of Public Service Enterprise Group by 24.7% during the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock valued at $1,476,230,000 after acquiring an additional 3,469,886 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Public Service Enterprise Group by 0.9% in the second quarter. Geode Capital Management LLC now owns 12,526,776 shares of the utilities provider’s stock valued at $1,049,973,000 after purchasing an additional 110,087 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in Public Service Enterprise Group by 9.8% in the second quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock worth $674,218,000 after purchasing an additional 715,051 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the transaction, the senior vice president directly owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. This represents a 15.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG opened at $78.61 on Tuesday. The firm has a market capitalization of $39.24 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 2.22 and a beta of 0.60. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. The business’s 50-day moving average is $80.82 and its two-hundred day moving average is $82.52. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period last year, the business earned $0.90 EPS. The company’s 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. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 60.58%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PEG. UBS Group lowered their target price on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a report on Wednesday, December 17th. Barclays lifted their price objective on Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. JPMorgan Chase & Co. dropped their target price on shares of Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price target for the company in a report on Wednesday, January 7th. Finally, BTIG Research began coverage on shares of Public Service Enterprise Group in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price target for the company. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $91.35.

About Public Service Enterprise Group

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.