Y Intercept Hong Kong Ltd Purchases 10,767 Shares of Public Service Enterprise Group Incorporated $PEG

Y Intercept Hong Kong Ltd increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 28.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 49,149 shares of the utilities provider’s stock after buying an additional 10,767 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Public Service Enterprise Group were worth $4,102,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PEG. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the second quarter valued at approximately $25,000. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group during the 2nd quarter valued at $25,000. Keener Financial Planning LLC purchased a new position in Public Service Enterprise Group during the 2nd quarter worth $27,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Public Service Enterprise Group in the third quarter valued at about $27,000. Finally, GoalVest Advisory LLC raised its holdings in shares of 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 purchasing an additional 225 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Down 1.4%

Shares of NYSE PEG opened at $78.28 on Monday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. The stock has a market capitalization of $39.07 billion, a P/E ratio of 18.82, a PEG ratio of 2.54 and a beta of 0.60. The firm’s 50 day simple moving average is $80.21 and its two-hundred day simple moving average is $82.32. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $2.80 billion. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior 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, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were issued a $0.63 dividend. The ex-dividend date was Wednesday, December 10th. This represents a $2.52 annualized dividend and a yield of 3.2%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 60.58%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $85.00 price objective (down from $88.00) on shares of Public Service Enterprise Group in a research report on Thursday. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price target on the stock in a report on Wednesday, January 7th. UBS Group reduced their price objective on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company upgraded shares of Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $88.00 to $92.00 in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.96.

Insiders Place Their Bets

In related news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s 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 transaction, the senior vice president directly owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. This trade represents a 15.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

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.