Sit Investment Associates Inc. Sells 109,152 Shares of Public Service Enterprise Group Incorporated $PEG

Sit Investment Associates Inc. trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 93.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,560 shares of the utilities provider’s stock after selling 109,152 shares during the quarter. Sit Investment Associates Inc.’s holdings in Public Service Enterprise Group were worth $607,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PEG. Pacer Advisors Inc. increased its stake in shares of Public Service Enterprise Group by 18.9% during the fourth quarter. Pacer Advisors Inc. now owns 50,032 shares of the utilities provider’s stock valued at $4,018,000 after buying an additional 7,958 shares during the period. Walser Wealth Management Company A Ltd Liability Co purchased a new stake in Public Service Enterprise Group in the fourth quarter worth about $265,000. MV Capital Management Inc. purchased a new stake in Public Service Enterprise Group in the fourth quarter worth about $59,000. Invesco Ltd. grew its holdings in Public Service Enterprise Group by 2.2% during the 4th quarter. Invesco Ltd. now owns 6,239,884 shares of the utilities provider’s stock worth $501,063,000 after acquiring an additional 131,641 shares in the last quarter. Finally, Harbour Wealth Management Group Inc. bought a new position in Public Service Enterprise Group during the 4th quarter worth about $292,000. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PEG. Scotiabank restated a “sector perform” rating and issued a $92.00 price target on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Wells Fargo & Company increased their price objective on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Jefferies Financial Group downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $90.00 to $89.00 in a research note on Wednesday, April 15th. Finally, JPMorgan Chase & Co. upped their target price on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. One 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.19.

Public Service Enterprise Group Price Performance

PEG opened at $79.88 on Friday. The firm has a market capitalization of $39.80 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 3.01 and a beta of 0.51. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. The business’s 50-day moving average is $79.39 and its two-hundred day moving average is $80.76. Public Service Enterprise Group Incorporated has a 1 year low of $76.05 and a 1 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 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the prior year, the firm posted $1.43 earnings per share. The company’s quarterly revenue was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company 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 dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is 59.29%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the sale, the chief executive officer owned 287,232 shares of the company’s stock, valued at $22,119,736.32. This represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,249 shares of company stock worth $498,795 over the last three months. Corporate insiders own 0.19% of the company’s stock.

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.