JPMorgan Chase & Co. Has $826.75 Million Stock Holdings in Public Service Enterprise Group Incorporated $PEG

JPMorgan Chase & Co. reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 29.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,821,156 shares of the utilities provider’s stock after selling 4,015,515 shares during the quarter. JPMorgan Chase & Co.’s holdings in Public Service Enterprise Group were worth $826,754,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Keener Financial Planning LLC bought a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $27,000. GoalVest Advisory LLC raised its stake in shares of Public Service Enterprise Group by 166.7% during the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 225 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Public Service Enterprise Group in the first quarter worth $32,000. Wealth Preservation Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the first quarter worth $33,000. Finally, Marshall & Sullivan Inc. WA acquired a new stake in Public Service Enterprise Group in the second quarter valued at $33,000. Institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on PEG. BMO Capital Markets lowered 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 research report on Tuesday, November 4th. Morgan Stanley lowered 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 report on Thursday, September 25th. TD Cowen lifted their price objective on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. BTIG Research began coverage on shares of Public Service Enterprise Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price for the company. Finally, Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $89.00 to $90.00 in a report on Thursday, November 6th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.19.

Public Service Enterprise Group Stock Up 0.6%

Shares of Public Service Enterprise Group stock opened at $81.25 on Friday. The stock’s 50-day moving average is $82.19 and its 200 day moving average is $82.48. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22. The firm has a market cap of $40.56 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 2.46 and a beta of 0.55. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76.

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 analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the previous year, the company posted $0.90 earnings per share. 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. Equities research analysts anticipate 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 will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $2.52 annualized dividend and a yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio is currently 60.58%.

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 shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the completion of the sale, the senior vice president directly owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

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.