Lbp Am Sa Raises Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Lbp Am Sa increased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1,160.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,741 shares of the utilities provider’s stock after purchasing an additional 44,873 shares during the quarter. Lbp Am Sa’s holdings in Public Service Enterprise Group were worth $4,068,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEG. Commerzbank Aktiengesellschaft FI raised its stake in shares of Public Service Enterprise Group by 50.5% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 17,257 shares of the utilities provider’s stock worth $1,441,000 after acquiring an additional 5,793 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in shares of Public Service Enterprise Group by 14.9% in the third quarter. First Citizens Bank & Trust Co. now owns 3,495 shares of the utilities provider’s stock worth $292,000 after purchasing an additional 452 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Public Service Enterprise Group by 1.6% in the 3rd quarter. CIBC Asset Management Inc now owns 229,286 shares of the utilities provider’s stock valued at $19,136,000 after acquiring an additional 3,689 shares during the last quarter. Stoneridge Investment Partners LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at about $1,806,000. Finally, Kanawha Capital Management LLC lifted its holdings in Public Service Enterprise Group by 1.1% in the third quarter. Kanawha Capital Management LLC now owns 21,884 shares of the utilities provider’s stock valued at $1,826,000 after acquiring an additional 248 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $80.46 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93. The firm’s 50-day simple moving average is $80.10 and its 200-day simple moving average is $82.28. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $91.25. The firm has a market cap of $40.16 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 2.57 and a beta of 0.60.

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

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date was Wednesday, December 10th. Public Service Enterprise Group’s payout ratio is presently 60.58%.

Wall Street Analysts Forecast Growth

PEG has been the topic of several research reports. Argus upgraded Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. UBS Group cut their target price on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. Wells Fargo & Company upgraded shares of Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $88.00 to $92.00 in a research note on Tuesday, January 20th. TD Cowen boosted their price target on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $85.00 price target (down previously from $88.00) on shares of Public Service Enterprise Group in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average target price of $90.96.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction 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 transaction, the senior vice president directly owned 26,134 shares in the company, valued at $2,151,612.22. The trade was a 15.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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.