M&G PLC Sells 10,659 Shares of Public Service Enterprise Group Incorporated $PEG

M&G PLC decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 58.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,547 shares of the utilities provider’s stock after selling 10,659 shares during the period. M&G PLC’s holdings in Public Service Enterprise Group were worth $634,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PEG. TFB Advisors LLC lifted its holdings in shares of Public Service Enterprise Group by 4.8% during the second quarter. TFB Advisors LLC now owns 2,611 shares of the utilities provider’s stock valued at $220,000 after acquiring an additional 119 shares during the period. Massachusetts Wealth Management grew its holdings in shares of Public Service Enterprise Group by 2.5% in the 2nd quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock worth $431,000 after purchasing an additional 125 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Public Service Enterprise Group by 0.8% during the 2nd quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider’s stock worth $1,315,000 after purchasing an additional 126 shares in the last quarter. FourThought Financial Partners LLC lifted its holdings in Public Service Enterprise Group by 2.8% during the 1st quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock valued at $378,000 after purchasing an additional 127 shares during the last quarter. Finally, Summit Financial LLC boosted its position in Public Service Enterprise Group by 2.2% in the first quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock valued at $507,000 after buying an additional 133 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the sale, the senior vice president owned 26,134 shares in the company, valued at $2,151,612.22. The trade was a 15.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on PEG shares. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Wednesday, October 8th. Wells Fargo & Company initiated coverage on Public Service Enterprise Group in a report on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price target for the company. BMO Capital Markets cut their price objective on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research report on Tuesday, November 4th. Finally, UBS Group increased their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average target price of $91.19.

Public Service Enterprise Group Trading Down 1.4%

PEG stock opened at $82.35 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. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The company has a market cap of $41.11 billion, a P/E ratio of 20.80, a PEG ratio of 2.46 and a beta of 0.55. The business has a fifty day moving average of $82.13 and a 200-day moving average of $82.38.

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 for the quarter, compared to analysts’ expectations of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

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.