Public Service Enterprise Group Incorporated $PEG Shares Sold by CPC Advisors LLC

CPC Advisors LLC lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 33.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,817 shares of the utilities provider’s stock after selling 6,477 shares during the quarter. CPC Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,070,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Empowered Funds LLC raised its position in shares of Public Service Enterprise Group by 10.3% during the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock valued at $831,000 after acquiring an additional 940 shares in the last quarter. Woodline Partners LP increased its stake in Public Service Enterprise Group by 40.7% during the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock valued at $3,464,000 after purchasing an additional 12,172 shares during the last quarter. Focus Partners Wealth increased its stake in Public Service Enterprise Group by 6.4% during the first quarter. Focus Partners Wealth now owns 34,312 shares of the utilities provider’s stock valued at $2,824,000 after purchasing an additional 2,075 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Public Service Enterprise Group by 69.6% during the first quarter. Intech Investment Management LLC now owns 23,301 shares of the utilities provider’s stock worth $1,918,000 after purchasing an additional 9,563 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of Public Service Enterprise Group by 6.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,378 shares of the utilities provider’s stock worth $360,000 after buying an additional 267 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were 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 of the company’s stock, valued at approximately $2,151,612.22. This trade represents a 15.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Evercore ISI initiated coverage on Public Service Enterprise Group in a report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 target price for the company. JPMorgan Chase & Co. dropped their price target on Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a research report on Friday, December 12th. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. Finally, UBS Group lowered their price objective on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.35.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $78.75 on Wednesday. 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 market cap of $39.31 billion, a PE ratio of 18.93, a P/E/G ratio of 2.22 and a beta of 0.60. The stock has a 50 day simple moving average of $80.75 and a 200-day simple moving average of $82.48. 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 (NYSE:PEG) last announced its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is currently 60.58%.

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.