Public Service Enterprise Group Incorporated $PEG Shares Sold by Royal Bank of Canada

Royal Bank of Canada reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,462,889 shares of the utilities provider’s stock after selling 293,901 shares during the period. Royal Bank of Canada’s holdings in Public Service Enterprise Group were worth $202,695,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PEG. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group in the fourth quarter valued at $25,000. REAP Financial Group LLC increased its holdings in Public Service Enterprise Group by 105.9% in the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock valued at $27,000 after buying an additional 162 shares during the last quarter. Headlands Technologies LLC purchased a new position in Public Service Enterprise Group in the first quarter valued at $32,000. Wealth Preservation Advisors LLC purchased a new position in Public Service Enterprise Group in the first quarter valued at $33,000. Finally, Zions Bancorporation National Association UT purchased a new position in Public Service Enterprise Group in the first quarter valued at $50,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $82.36 on Tuesday. The stock’s 50-day moving average is $84.68 and its two-hundred day moving average is $82.25. The firm has a market cap of $41.10 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 2.86 and a beta of 0.50. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $95.22. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.07. The company had revenue of $2.81 billion for 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 quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the company posted $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 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 dividend on an annualized basis and a dividend yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 63.64%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,387 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the transaction, the chief executive officer owned 218,328 shares of the company’s stock, valued at $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wall Street Zen lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Sunday, July 20th. Barclays dropped their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, July 10th. 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 report on Wednesday, August 6th. 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 report on Friday, July 25th. Finally, Morgan Stanley dropped their target price on Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, June 18th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.95.

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.