Forsta AP Fonden Sells 91,600 Shares of Public Service Enterprise Group Incorporated $PEG

Forsta AP Fonden lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 45.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 111,000 shares of the utilities provider’s stock after selling 91,600 shares during the period. Forsta AP Fonden’s holdings in Public Service Enterprise Group were worth $9,344,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PEG. Apollon Wealth Management LLC lifted its position in shares of Public Service Enterprise Group by 2.6% in the first quarter. Apollon Wealth Management LLC now owns 15,495 shares of the utilities provider’s stock valued at $1,275,000 after buying an additional 395 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Public Service Enterprise Group by 29.1% during the 1st quarter. Victory Capital Management Inc. now owns 658,550 shares of the utilities provider’s stock worth $54,199,000 after acquiring an additional 148,604 shares during the last quarter. Graypoint LLC raised its stake in Public Service Enterprise Group by 5.4% in the 1st quarter. Graypoint LLC now owns 4,444 shares of the utilities provider’s stock valued at $366,000 after acquiring an additional 226 shares during the period. Woodward Diversified Capital LLC lifted its holdings in Public Service Enterprise Group by 9.0% during the 1st quarter. Woodward Diversified Capital LLC now owns 3,188 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 263 shares during the last quarter. Finally, Bailard Inc. lifted its holdings in Public Service Enterprise Group by 12.9% during the 1st quarter. Bailard Inc. now owns 17,157 shares of the utilities provider’s stock valued at $1,412,000 after purchasing an additional 1,959 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $82.35 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $41.11 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The company has a 50-day simple moving average of $82.13 and a two-hundred day simple moving average of $82.38.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period last year, the firm earned $0.90 earnings per share. The business’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. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Insider Buying and Selling

In other Public Service Enterprise Group 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 value of $405,063.60. Following the completion of the transaction, the senior vice president directly owned 26,134 shares of the company’s stock, valued at $2,151,612.22. The trade was a 15.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on PEG. BMO Capital Markets decreased their price objective on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a report on Tuesday, November 4th. BTIG Research started coverage on shares of Public Service Enterprise Group in a report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price for the company. Evercore ISI initiated coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target on the stock. TD Cowen raised their price objective on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Wells Fargo & Company assumed coverage on Public Service Enterprise Group in a research report on Tuesday, October 28th. They issued an “equal weight” rating and a $88.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $91.19.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.