Public Service Enterprise Group Incorporated $PEG Shares Sold by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. has significantly decreased its stake in Public Service Enterprise Group by 93.1%, reducing its holdings to 3,097 shares valued at $255,000.
• The CEO Ralph A. Larossa sold 1,387 shares at $83.12 each, resulting in a total sale value of approximately $115,287, reducing his ownership by 0.63%.
• Public Service Enterprise Group reported $0.77 earnings per share for the last quarter, surpassing estimates of $0.70, along with a quarterly revenue increase of 15.8% year-over-year.

Benjamin Edwards Inc. lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 93.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,097 shares of the utilities provider's stock after selling 41,979 shares during the period. Benjamin Edwards Inc.'s holdings in Public Service Enterprise Group were worth $255,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Transce3nd LLC acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth $25,000. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group during the 4th quarter worth about $25,000. REAP Financial Group LLC raised its stake in Public Service Enterprise Group by 105.9% in the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 162 shares during the last quarter. Headlands Technologies LLC purchased a new position in Public Service Enterprise Group in the 1st quarter valued at about $32,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $50,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PEG shares. Barclays cut their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. Morgan Stanley reduced their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. Guggenheim decreased their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Evercore ISI dropped their target price on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Finally, Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $90.95.

Public Service Enterprise Group Trading Up 0.8%

Shares of NYSE:PEG traded up $0.6760 during trading on Wednesday, reaching $85.2660. 1,201,439 shares of the stock were exchanged, compared to its average volume of 2,863,165. The firm's 50-day moving average price is $84.42 and its 200 day moving average price is $82.30. The firm has a market cap of $42.55 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 2.93 and a beta of 0.45. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00.

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 the consensus estimate of $0.70 by $0.07. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The firm's revenue was up 15.8% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group's payout ratio is presently 63.64%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was 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 in the company, valued at $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.19% of the company's stock.

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.