Strs Ohio Lowers Stake in Public Service Enterprise Group Incorporated $PEG

Strs Ohio lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 71.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,941 shares of the utilities provider’s stock after selling 29,770 shares during the period. Strs Ohio’s holdings in Public Service Enterprise Group were worth $997,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. JARISLOWSKY FRASER Ltd grew its position in Public Service Enterprise Group by 107.1% in the third quarter. JARISLOWSKY FRASER Ltd now owns 1,025,305 shares of the utilities provider’s stock worth $85,572,000 after acquiring an additional 530,248 shares during the period. Railway Pension Investments Ltd lifted its stake in shares of Public Service Enterprise Group by 97.5% in the 3rd quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock valued at $158,390,000 after purchasing an additional 937,100 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of Public Service Enterprise Group by 18.2% during the 3rd quarter. Voya Investment Management LLC now owns 1,645,407 shares of the utilities provider’s stock worth $137,155,000 after purchasing an additional 253,810 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Public Service Enterprise Group by 22.6% during 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 last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Public Service Enterprise Group by 12.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,638,039 shares of the utilities provider’s stock worth $387,091,000 after purchasing an additional 512,341 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 1.0%

Shares of PEG stock opened at $81.26 on Thursday. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $91.25. The company has a 50 day moving average price of $80.11 and a 200 day moving average price of $82.27. The stock has a market capitalization of $40.56 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 2.61 and a beta of 0.60. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results 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. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were given a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 60.58%.

Insider Activity

In other news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the transaction, the senior vice president directly owned 26,134 shares of the company’s stock, 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PEG shares. BMO Capital Markets lowered their target price on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research note on Tuesday, November 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price objective for the company in a research report on Wednesday, January 7th. Evercore ISI assumed coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 target price for the company. Finally, UBS Group cut their target price on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average price target of $90.96.

Public Service Enterprise Group Profile

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.