Public Service Enterprise Group Incorporated $PEG Shares Sold by Groupe la Francaise

Groupe la Francaise cut its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 93.1% in the 2nd quarter, Holdings Channel reports. The firm owned 4,403 shares of the utilities provider’s stock after selling 59,743 shares during the quarter. Groupe la Francaise’s holdings in Public Service Enterprise Group were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in PEG. Blueshift Asset Management LLC increased its stake in Public Service Enterprise Group by 149.8% during the 2nd quarter. Blueshift Asset Management LLC now owns 9,052 shares of the utilities provider’s stock valued at $762,000 after buying an additional 5,429 shares during the period. Shelton Capital Management lifted its stake in shares of Public Service Enterprise Group by 2,176.6% in the 2nd quarter. Shelton Capital Management now owns 64,108 shares of the utilities provider’s stock worth $5,397,000 after acquiring an additional 61,292 shares during the period. BLI Banque de Luxembourg Investments bought a new position in shares of Public Service Enterprise Group in the second quarter valued at approximately $4,450,000. Railway Pension Investments Ltd increased its stake in shares of Public Service Enterprise Group by 10.8% during the second quarter. Railway Pension Investments Ltd now owns 960,700 shares of the utilities provider’s stock valued at $80,872,000 after acquiring an additional 93,400 shares during the period. Finally, Lido Advisors LLC increased its stake in shares of Public Service Enterprise Group by 141.1% during the second quarter. Lido Advisors LLC now owns 21,737 shares of the utilities provider’s stock valued at $1,830,000 after acquiring an additional 12,721 shares during the period. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $80.83 on Friday. The company has a market capitalization of $40.34 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 2.46 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $92.25. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. The stock’s fifty day simple moving average is $82.26 and its 200-day simple moving average is $82.66.

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 (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the prior year, the business earned $0.90 EPS. The business’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. On average, sell-side analysts predict 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. Public Service Enterprise Group’s payout ratio is presently 60.58%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the company’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 value of $405,063.60. Following the transaction, the senior vice president owned 26,134 shares in the company, valued at approximately $2,151,612.22. This represents a 15.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Evercore ISI initiated coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 target price for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday. TD Cowen lifted their target price on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Jefferies Financial Group raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and upped their target price for the company from $89.00 to $90.00 in a report on Thursday, November 6th. Finally, BTIG Research started coverage on Public Service Enterprise Group in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.19.

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.