RWC Asset Management LLP Sells 17,666 Shares of Public Service Enterprise Group Incorporated $PEG

RWC Asset Management LLP lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 272,267 shares of the utilities provider’s stock after selling 17,666 shares during the period. Public Service Enterprise Group accounts for 1.1% of RWC Asset Management LLP’s holdings, making the stock its 29th biggest position. RWC Asset Management LLP owned about 0.05% of Public Service Enterprise Group worth $21,863,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $25,000. Quest 10 Wealth Builders Inc. increased its holdings in shares of Public Service Enterprise Group by 250.5% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 248 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $44,000. TFC Financial Management Inc. increased its holdings in shares of Public Service Enterprise Group by 3,000.0% during the 4th quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 570 shares during the last quarter. Finally, Colonial Trust Co SC increased its holdings in shares of Public Service Enterprise Group by 26.8% during the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 121 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $79.48 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. The stock’s fifty day moving average price is $79.80 and its two-hundred day moving average price is $80.96. Public Service Enterprise Group Incorporated has a one year low of $76.05 and a one year high of $91.25. The firm has a market cap of $39.61 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 2.99 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the prior year, the firm posted $1.43 EPS. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio is currently 59.29%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $77.01, for a total value of $160,411.83. Following the transaction, the chief executive officer directly owned 287,232 shares of the company’s stock, valued at $22,119,736.32. This represents a 0.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 6,249 shares of company stock valued at $498,795. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PEG. JPMorgan Chase & Co. boosted their target price on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Truist Financial decreased their target price on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Scotiabank reissued a “sector perform” rating and set a $92.00 target price on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Jefferies Financial Group lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $90.00 to $89.00 in a report on Wednesday, April 15th. Finally, Barclays boosted their target price on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.19.

Public Service Enterprise Group Company 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.