Nisa Investment Advisors LLC Cuts Holdings in Public Service Enterprise Group Incorporated $PEG

Nisa Investment Advisors LLC lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 27.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,855 shares of the utilities provider’s stock after selling 21,414 shares during the period. Nisa Investment Advisors LLC’s holdings in Public Service Enterprise Group were worth $4,829,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PEG. Twin Peaks Wealth Advisors LLC acquired a new position in Public Service Enterprise Group in the 2nd quarter worth about $25,000. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $25,000. Keener Financial Planning LLC purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at approximately $27,000. GoalVest Advisory LLC lifted its position in shares of Public Service Enterprise Group by 166.7% during the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after buying an additional 225 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at $33,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group stock in a transaction 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays upped their price objective on shares of 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. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. TD Cowen raised their price target on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Morgan Stanley cut their price objective on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Finally, BMO Capital Markets reduced their target price on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $91.35.

Public Service Enterprise Group Stock Up 1.6%

Shares of NYSE PEG opened at $78.67 on Monday. The stock has a market cap of $39.27 billion, a PE ratio of 18.91, a P/E/G ratio of 2.22 and a beta of 0.60. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $91.25. The company has a 50-day moving average of $80.87 and a 200 day moving average of $82.55.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, topping 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 12.62% and a net margin of 17.77%.The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, sell-side 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 announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.2%. The ex-dividend date was Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is presently 60.58%.

About Public Service Enterprise Group

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.