Great Lakes Advisors LLC Sells 15,895 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Great Lakes Advisors LLC reduced its PEG stake by 3.4% in the fourth quarter, selling 15,895 shares and leaving it with 455,598 shares valued at about $36.6 million.
• Public Service Enterprise Group beat quarterly expectations, reporting EPS of $1.55 versus $1.44 expected and revenue of $3.85 billion versus $3.35 billion expected; revenue also rose 19.4% year over year.
• The company reaffirmed shareholder returns with a quarterly dividend of $0.67 per share, implying an annualized yield of 3.4%, while analysts currently rate the stock a consensus Moderate Buy with a $93.19 average target.

Great Lakes Advisors LLC lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 455,598 shares of the utilities provider's stock after selling 15,895 shares during the quarter. Great Lakes Advisors LLC owned about 0.09% of Public Service Enterprise Group worth $36,585,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Aviva PLC lifted its stake in Public Service Enterprise Group by 8.3% in the fourth quarter. Aviva PLC now owns 1,191,124 shares of the utilities provider's stock valued at $95,647,000 after buying an additional 91,703 shares in the last quarter. Mosley Wealth Management bought a new position in Public Service Enterprise Group in the fourth quarter valued at approximately $670,000. Fox Hill Wealth Management lifted its stake in Public Service Enterprise Group by 8.0% in the fourth quarter. Fox Hill Wealth Management now owns 23,005 shares of the utilities provider's stock valued at $1,847,000 after buying an additional 1,700 shares in the last quarter. Xponance LLC lifted its stake in Public Service Enterprise Group by 6.1% in the fourth quarter. Xponance LLC now owns 83,316 shares of the utilities provider's stock valued at $6,690,000 after buying an additional 4,782 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in Public Service Enterprise Group by 6.4% in the fourth quarter. Empowered Funds LLC now owns 18,712 shares of the utilities provider's stock valued at $1,503,000 after buying an additional 1,130 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $78.80 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The company's fifty day simple moving average is $79.60 and its 200 day simple moving average is $80.87. Public Service Enterprise Group Incorporated has a 1-year low of $76.05 and a 1-year high of $91.25. The company has a market cap of $39.27 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 2.96 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.11. The firm had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The company's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 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, June 30th. Stockholders of record on Tuesday, June 9th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group's dividend payout ratio is presently 59.29%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Evercore raised shares of Public Service Enterprise Group from an "in-line" rating to an "outperform" rating and set a $96.00 price target on the stock in a research note on Thursday, March 5th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Scotiabank reiterated a "sector perform" rating and issued a $92.00 price objective on shares of Public Service Enterprise Group in a report on Thursday, February 26th. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a "market perform" rating in a report on Monday, April 13th. Finally, Truist Financial lowered their price objective on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a "hold" rating on the stock in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has a consensus rating of "Moderate Buy" and an average price target of $93.19.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $77.01, for a total value of $160,411.83. Following the sale, the chief executive officer directly owned 287,232 shares of the company's stock, valued at approximately $22,119,736.32. This represents a 0.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 6,249 shares of company stock valued at $498,795. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group 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.

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