Texas Permanent School Fund Corp Sells 34,109 Shares of Public Service Enterprise Group Incorporated $PEG

Texas Permanent School Fund Corp trimmed its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 48.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,241 shares of the utilities provider’s stock after selling 34,109 shares during the period. Texas Permanent School Fund Corp’s holdings in Public Service Enterprise Group were worth $3,051,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Twin Peaks Wealth Advisors LLC acquired a new position in Public Service Enterprise Group during the 2nd quarter worth $25,000. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group during the second quarter worth $25,000. Keener Financial Planning LLC acquired a new position in shares of Public Service Enterprise Group during the second quarter valued at $27,000. GoalVest Advisory LLC boosted its holdings in Public Service Enterprise Group by 166.7% in 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. Finally, Wealth Preservation Advisors LLC acquired a new stake in Public Service Enterprise Group in the first quarter worth about $33,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PEG. Wells Fargo & Company assumed coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 target price on the stock. Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $89.00 to $90.00 in a report on Thursday, November 6th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Barclays lifted their target price on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Finally, JPMorgan Chase & Co. cut 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 note on Friday, December 12th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average price target of $90.96.

Insiders Place Their Bets

In other news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $82.33, for a total transaction 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. This trade represents a 15.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Trading Down 0.7%

PEG opened at $80.06 on Friday. The stock has a market capitalization of $39.96 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.46 and a beta of 0.59. 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 Incorporated has a 12 month low of $74.67 and a 12 month high of $91.25. The firm’s fifty day simple moving average is $81.75 and its 200 day simple moving average is $82.68.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.11. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be paid a $0.63 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $2.52 annualized dividend and a yield of 3.1%. Public Service Enterprise Group’s payout ratio is presently 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.