Public Service Enterprise Group Incorporated $PEG Shares Bought by RWC Asset Management LLP

RWC Asset Management LLP raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 16.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 289,933 shares of the utilities provider’s stock after purchasing an additional 40,571 shares during the quarter. Public Service Enterprise Group accounts for approximately 1.2% of RWC Asset Management LLP’s portfolio, making the stock its 23rd largest holding. RWC Asset Management LLP’s holdings in Public Service Enterprise Group were worth $24,198,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC acquired a new position in Public Service Enterprise Group during the second quarter valued at approximately $25,000. Chapman Financial Group LLC purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at $25,000. Cedar Mountain Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $27,000. Keener Financial Planning LLC acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at $27,000. Finally, GoalVest Advisory LLC increased its holdings in Public Service Enterprise Group by 166.7% in the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 0.1%

Shares of NYSE:PEG opened at $78.61 on Tuesday. The firm has a market cap of $39.24 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 2.22 and a beta of 0.60. The company has a fifty day simple moving average of $80.82 and a 200 day simple moving average of $82.52. 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.

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, topping the consensus estimate 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 for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the business earned $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, equities 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 disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were paid a dividend of $0.63 per share. 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 is presently 60.58%.

Insider Buying and Selling

In other news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 26,134 shares in the company, valued at approximately $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 can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PEG has been the subject of a number of recent research reports. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price for the company in a research note on Wednesday, January 7th. BMO Capital Markets lowered their price objective on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research report on Tuesday, November 4th. BTIG Research started coverage on shares of Public Service Enterprise Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price on the stock. TD Cowen upped their target price on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Jefferies Financial Group raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $89.00 to $90.00 in a research note on Thursday, November 6th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.35.

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.