ABN Amro Investment Solutions Cuts Stock Position in Public Service Enterprise Group Incorporated $PEG

ABN Amro Investment Solutions cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 38.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,847 shares of the utilities provider’s stock after selling 16,410 shares during the quarter. ABN Amro Investment Solutions’ holdings in Public Service Enterprise Group were worth $2,092,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Entropy Technologies LP raised its stake in Public Service Enterprise Group by 115.6% during the 4th quarter. Entropy Technologies LP now owns 24,717 shares of the utilities provider’s stock valued at $1,985,000 after buying an additional 13,253 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in Public Service Enterprise Group by 26.3% during the 1st quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider’s stock valued at $5,593,000 after buying an additional 14,406 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of Public Service Enterprise Group by 120.0% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 63,102 shares of the utilities provider’s stock valued at $5,108,000 after acquiring an additional 34,415 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its stake in Public Service Enterprise Group by 38.0% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,946,512 shares of the utilities provider’s stock worth $156,305,000 after buying an additional 536,363 shares during the period. Finally, Elevation Point Wealth Partners LLC grew its position in Public Service Enterprise Group by 135.2% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 21,693 shares of the utilities provider’s stock valued at $1,756,000 after acquiring an additional 12,468 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PEG shares. Royal Bank Of Canada assumed coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 target price on the stock. BMO Capital Markets upped their price target on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a report on Monday, April 13th. Wells Fargo & Company reduced their price target on shares of Public Service Enterprise Group from $97.00 to $91.00 and set an “overweight” rating on the stock in a research note on Wednesday. Truist Financial lifted their price objective on shares of Public Service Enterprise Group from $88.00 to $90.00 and gave the company a “hold” rating in a report on Thursday, July 16th. Finally, Jefferies Financial Group dropped their target price on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.25.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the sale, the chief operating officer owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total value of $167,702.33. Following the sale, the chief executive officer owned 285,149 shares in the company, valued at $22,957,345.99. The trade was a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 9,284 shares of company stock valued at $746,145. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $79.83 on Friday. The company has a market capitalization of $39.78 billion, a PE ratio of 17.66, a P/E/G ratio of 3.00 and a beta of 0.51. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The company has a 50-day simple moving average of $79.74 and a two-hundred day simple moving average of $80.83. Public Service Enterprise Group Incorporated has a one year low of $76.05 and a one year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period last year, the business earned $1.43 EPS. The company’s revenue was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Research analysts expect that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a $0.67 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 59.29%.

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.