Hsbc Holdings PLC Lowers Stake in Public Service Enterprise Group Incorporated $PEG

Key Points

• Hsbc Holdings PLC reduced its stake in Public Service Enterprise Group by 1.5% in Q1, owning approximately 1.4 million shares valued at $118 million.
• Institutional investors hold 73.34% of Public Service Enterprise Group's stock, with Vanguard Group increasing its stake by 4.9% during the same period.
• The company reported an earnings per share of $0.77 for Q2, exceeding analysts' expectations, and set a quarterly dividend of $0.63 per share to be paid on September 30th.

Hsbc Holdings PLC lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,436,732 shares of the utilities provider's stock after selling 22,315 shares during the period. Hsbc Holdings PLC owned about 0.29% of Public Service Enterprise Group worth $118,042,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Transce3nd LLC bought a new stake in Public Service Enterprise Group in the 4th quarter worth about $25,000. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group in the 4th quarter worth about $25,000. REAP Financial Group LLC grew its position 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 worth $27,000 after purchasing an additional 162 shares in the last quarter. Headlands Technologies LLC bought a new stake in Public Service Enterprise Group in the 1st quarter worth about $32,000. Finally, Optiver Holding B.V. bought a new stake in Public Service Enterprise Group in the 4th quarter worth about $50,000. 73.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the transaction, the chief executive officer directly owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Performance

PEG traded up $0.3440 on Friday, hitting $83.6340. The company's stock had a trading volume of 3,117,018 shares, compared to its average volume of 2,499,858. The company's 50 day simple moving average is $84.59 and its 200-day simple moving average is $82.32. The firm has a market cap of $41.74 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 2.90 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 quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30.

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, topping the consensus estimate 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 revenue for the quarter was up 15.8% on a year-over-year basis. During the same period last year, the firm earned $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. Evercore ISI reduced their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Guggenheim reduced their target price on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Barclays reduced their target price 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. Finally, UBS Group increased their target price on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.95.

About Public Service Enterprise Group

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.