Public Service Enterprise Group Incorporated $PEG Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,558,080 shares of the utilities provider’s stock after selling 61,751 shares during the quarter. Jennison Associates LLC owned about 0.31% of Public Service Enterprise Group worth $130,037,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. TFB Advisors LLC lifted its stake in shares of 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 during the period. HM Payson & Co. raised its stake in shares of Public Service Enterprise Group by 3.3% during the 3rd quarter. HM Payson & Co. now owns 3,755 shares of the utilities provider’s stock worth $313,000 after buying an additional 120 shares during the period. Massachusetts Wealth Management lifted its position in shares of Public Service Enterprise Group by 2.5% during the 2nd 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 raised its position in shares of Public Service Enterprise Group by 0.8% during the 2nd quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider’s stock worth $1,315,000 after purchasing an additional 126 shares during the last quarter. Finally, Sage Private Wealth Group LLC lifted its stake in Public Service Enterprise Group by 4.9% in the 3rd quarter. Sage Private Wealth Group LLC now owns 2,831 shares of the utilities provider’s stock valued at $236,000 after buying an additional 133 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group stock in a transaction dated 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 $2,151,612.22. The trade was a 15.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Trading Down 1.4%

NYSE:PEG opened at $78.28 on Friday. 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 Incorporated has a 1 year low of $74.67 and a 1 year high of $91.25. The stock 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 stock has a fifty day moving average price of $80.21 and a two-hundred day moving average price of $82.31.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (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 analysts’ expectations 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 quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the company posted $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have commented on PEG. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price on the stock in a research report on Wednesday, January 7th. Argus raised Public Service Enterprise Group to a “strong-buy” rating in a research note on Wednesday, January 14th. Evercore ISI initiated coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target on the stock. UBS Group decreased their price objective on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. Finally, TD Cowen lifted their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.