Public Service Enterprise Group Incorporated $PEG Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,636,403 shares of the utilities provider’s stock after selling 144,896 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Public Service Enterprise Group were worth $136,574,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. TFB Advisors LLC increased its stake in Public Service Enterprise Group by 4.8% in the 2nd quarter. TFB Advisors LLC now owns 2,611 shares of the utilities provider’s stock valued at $220,000 after purchasing an additional 119 shares in the last quarter. HM Payson & Co. grew its holdings in Public Service Enterprise Group by 3.3% in the third quarter. HM Payson & Co. now owns 3,755 shares of the utilities provider’s stock valued at $313,000 after purchasing an additional 120 shares during the last quarter. Massachusetts Wealth Management increased its position in shares of Public Service Enterprise Group by 2.5% in the second quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock valued at $431,000 after buying an additional 125 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of Public Service Enterprise Group by 0.8% in the second quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider’s stock valued at $1,315,000 after buying an additional 126 shares in the last quarter. Finally, Sage Private Wealth Group LLC raised its stake in shares of Public Service Enterprise Group by 4.9% during the 3rd quarter. Sage Private Wealth Group LLC now owns 2,831 shares of the utilities provider’s stock worth $236,000 after buying an additional 133 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $78.28 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $91.25. The company’s 50 day simple moving average is $80.21 and its 200 day simple moving average is $82.31. The company has a market capitalization of $39.07 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 2.58 and a beta of 0.60. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, beating 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 company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the previous year, the firm posted $0.90 EPS. Public Service Enterprise Group’s revenue 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 EPS for the current year.

Public Service Enterprise Group Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Richard T. Thigpen sold 4,920 shares of the stock in a transaction dated Friday, November 7th. The stock was 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 approximately $2,151,612.22. This represents a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

PEG has been the topic of a number of research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. Barclays lowered their price target on shares of Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Thursday. Argus upgraded Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. 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 target price on the stock. Finally, Wells Fargo & Company raised Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $88.00 to $92.00 in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.96.

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.