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

Lbp Am Sa decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 93.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,373 shares of the utilities provider’s stock after selling 45,368 shares during the quarter. Lbp Am Sa’s holdings in Public Service Enterprise Group were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the second quarter worth about $25,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Public Service Enterprise Group in the third quarter worth about $27,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Public Service Enterprise Group in the third quarter worth about $38,000. CGC Financial Services LLC boosted its stake in shares of Public Service Enterprise Group by 98.5% in the third quarter. CGC Financial Services LLC now owns 520 shares of the utilities provider’s stock worth $43,000 after buying an additional 258 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Public Service Enterprise Group in the third quarter worth about $43,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $81.24, for a total transaction of $169,222.92. Following the completion of the transaction, the chief executive officer owned 291,398 shares of the company’s stock, valued at $23,673,173.52. This represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the transaction, the senior vice president directly owned 28,481 shares of the company’s stock, valued at $2,363,923. The trade was a 14.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 8,866 shares of company stock valued at $733,587 in the last three months. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of analyst reports. Scotiabank reaffirmed a “sector perform” rating and issued a $92.00 price target on shares of Public Service Enterprise Group in a report on Thursday, February 26th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $87.50 to $84.50 in a report on Friday, March 13th. JPMorgan Chase & Co. upped their price target on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Wells Fargo & Company upped their price target on Public Service Enterprise Group from $92.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Finally, BMO Capital Markets upped their price target on Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $93.42.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $81.60 on Friday. The stock has a market capitalization of $40.70 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 2.67 and a beta of 0.58. Public Service Enterprise Group Incorporated has a twelve month low of $76.00 and a twelve month high of $91.25. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.28. The stock has a 50-day moving average of $83.19 and a 200 day moving average of $81.79.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The business’s revenue was up 18.3% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.3%. Public Service Enterprise Group’s payout ratio is currently 63.51%.

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.