BTG Pactual Asset Management US LLC Takes $3.64 Million Position in Public Service Enterprise Group Incorporated $PEG

BTG Pactual Asset Management US LLC acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 43,278 shares of the utilities provider’s stock, valued at approximately $3,643,000.

Several other large investors also recently bought and sold shares of PEG. Vanguard Personalized Indexing Management LLC grew its position in Public Service Enterprise Group by 22.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 73,542 shares of the utilities provider’s stock worth $6,192,000 after purchasing an additional 13,540 shares during the period. Norges Bank purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter worth $564,238,000. Janney Montgomery Scott LLC grew its holdings in shares of Public Service Enterprise Group by 2.5% in the second quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider’s stock worth $5,812,000 after acquiring an additional 1,652 shares during the period. Magellan Asset Management Ltd increased its position in Public Service Enterprise Group by 9.8% during the second quarter. Magellan Asset Management Ltd now owns 354,187 shares of the utilities provider’s stock valued at $29,815,000 after acquiring an additional 31,486 shares during the last quarter. Finally, Chemistry Wealth Management LLC purchased a new stake in Public Service Enterprise Group during the second quarter valued at $579,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $78.80 on Friday. The company has a market capitalization of $39.33 billion, a P/E ratio of 18.94, a P/E/G ratio of 2.41 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $91.25. The firm’s 50 day simple moving average is $81.85 and its two-hundred day simple moving average is $82.68. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the prior year, the company posted $0.90 earnings per share. The company’s revenue for the quarter 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 expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.2%. Public Service Enterprise Group’s dividend payout ratio is 60.58%.

Insider Activity

In related 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 stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the sale, the senior vice president owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. This trade represents a 15.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

PEG has been the topic of several research reports. Barclays raised their target price on Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday. BMO Capital Markets decreased their price target on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 4th. Finally, Evercore ISI started coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price target on the stock. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average price target of $91.35.

Public Service Enterprise Group Company 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.