Public Service Enterprise Group Incorporated $PEG Shares Sold by Reaves W H & Co. Inc.

Reaves W H & Co. Inc. reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 70.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 562,991 shares of the utilities provider’s stock after selling 1,343,505 shares during the quarter. Reaves W H & Co. Inc.’s holdings in Public Service Enterprise Group were worth $45,208,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB increased its stake in Public Service Enterprise Group by 28.6% in the 4th quarter. Nordea Investment Management AB now owns 2,266,925 shares of the utilities provider’s stock valued at $182,759,000 after buying an additional 504,632 shares during the period. Assetmark Inc. increased its stake in Public Service Enterprise Group by 4.6% in the 3rd quarter. Assetmark Inc. now owns 893,950 shares of the utilities provider’s stock valued at $74,609,000 after buying an additional 38,949 shares during the period. Greenland Capital Management LP increased its stake in Public Service Enterprise Group by 238.9% in the 3rd quarter. Greenland Capital Management LP now owns 69,734 shares of the utilities provider’s stock valued at $5,820,000 after buying an additional 49,157 shares during the period. PNC Financial Services Group Inc. increased its stake in Public Service Enterprise Group by 38.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 905,489 shares of the utilities provider’s stock valued at $75,572,000 after buying an additional 252,718 shares during the period. Finally, New York State Common Retirement Fund increased its stake in Public Service Enterprise Group by 13.0% in the 3rd quarter. New York State Common Retirement Fund now owns 314,668 shares of the utilities provider’s stock valued at $26,262,000 after buying an additional 36,100 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on PEG. JPMorgan Chase & Co. upped their price target on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Jefferies Financial Group cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $90.00 to $89.00 in a research note on Wednesday, April 15th. 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 research note on Monday, April 13th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $87.50 to $84.50 in a research note on Friday, March 13th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $92.00 price target on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $93.19.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $81.21, for a total value of $169,160.43. Following the sale, the chief executive officer directly owned 289,315 shares of the company’s stock, valued at approximately $23,495,271.15. This represents a 0.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the completion of the sale, the senior vice president directly owned 28,481 shares in the company, valued at approximately $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 10,949 shares of company stock worth $902,747. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $78.55 on Monday. The stock has a market cap of $39.14 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 2.96 and a beta of 0.51. Public Service Enterprise Group Incorporated has a fifty-two week low of $76.05 and a fifty-two week high of $91.25. The firm’s fifty day simple moving average is $80.05 and its 200-day simple moving average is $81.13. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31.

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. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm’s revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts expect that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid 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 presently 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.