AlphaQuest LLC Sells 7,970 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• AlphaQuest LLC reduced its holdings in Public Service Enterprise Group (PEG) by 42.9%, selling 7,970 shares and retaining 10,589 shares worth approximately $871,000.
• Public Service Enterprise Group reported a quarterly EPS of $0.77, exceeding analysts' estimates of $0.70, and announced a quarterly dividend of $0.63, yielding 3.0%.
• Analysts have mixed ratings for PEG, with a consensus rating of "Moderate Buy" and an average price target of $90.95.

AlphaQuest LLC decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 42.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,589 shares of the utilities provider's stock after selling 7,970 shares during the period. AlphaQuest LLC's holdings in Public Service Enterprise Group were worth $871,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. increased its position in shares of Public Service Enterprise Group by 6.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider's stock worth $3,922,000 after purchasing an additional 2,803 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Public Service Enterprise Group during the first quarter valued at $298,000. Exchange Traded Concepts LLC grew its holdings in shares of Public Service Enterprise Group by 12.7% during the first quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock valued at $327,000 after buying an additional 447 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Public Service Enterprise Group by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock valued at $7,417,000 after buying an additional 3,601 shares during the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Public Service Enterprise Group during the first quarter valued at $329,000. Institutional investors own 73.34% of the company's stock.

Wall Street Analyst Weigh In

PEG has been the topic of several analyst reports. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. Evercore ISI cut their price target on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. BMO Capital Markets increased their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Barclays cut their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Finally, UBS Group increased their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $90.95.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the sale, the chief executive officer directly owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. The trade was a 0.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Up 0.4%

PEG stock opened at $83.6340 on Monday. The company's 50-day simple moving average is $84.59 and its 200-day simple moving average is $82.29. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22. The firm has a market cap of $41.74 billion, a P/E ratio of 21.12, a PEG ratio of 2.91 and a beta of 0.45.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.07. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. Public Service Enterprise Group's quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 63.64%.

Public Service Enterprise Group Company 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.

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