Natixis Advisors LLC Sells 35,792 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Natixis Advisors LLC cut its Public Service Enterprise Group stake by 14.3% in the fourth quarter, selling 35,792 shares and leaving it with 214,221 shares worth about $17.2 million.
• Analysts remain cautiously positive on PEG, with a consensus rating of “Moderate Buy” and an average price target of $93.19; recent calls included Wells Fargo raising its target to $97 and JPMorgan lifting its target to $90.
• PEG reported solid quarterly results, beating earnings and revenue estimates with $1.55 EPS and $3.85 billion in revenue, and it also announced a quarterly dividend of $0.67 per share, implying a 3.4% yield.

Natixis Advisors LLC lowered its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 14.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 214,221 shares of the utilities provider's stock after selling 35,792 shares during the quarter. Natixis Advisors LLC's holdings in Public Service Enterprise Group were worth $17,202,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PEG. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at about $25,000. Quest 10 Wealth Builders Inc. raised its holdings in shares of Public Service Enterprise Group by 250.5% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 248 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $44,000. TFC Financial Management Inc. raised its holdings in shares of Public Service Enterprise Group by 3,000.0% in the 4th quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider's stock valued at $47,000 after purchasing an additional 570 shares in the last quarter. Finally, Colonial Trust Co SC raised its holdings in shares of Public Service Enterprise Group by 26.8% in the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider's stock valued at $48,000 after purchasing an additional 121 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price target on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, March 12th. Jefferies Financial Group lowered shares of Public Service Enterprise Group from a "buy" rating to a "hold" rating and reduced their price target for the company from $90.00 to $89.00 in a report on Wednesday, April 15th. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and reduced their price target for the company from $87.50 to $84.50 in a report on Friday, March 13th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Public Service Enterprise Group in a research report on Friday, March 27th. One research 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $93.19.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $77.01, for a total value of $160,411.83. Following the transaction, the chief executive officer owned 287,232 shares of the company's stock, valued at $22,119,736.32. The trade was a 0.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 owned by insiders.

Public Service Enterprise Group Stock Up 1.8%

Shares of Public Service Enterprise Group stock opened at $79.48 on Friday. The firm's 50 day moving average price is $79.80 and its 200-day moving average price is $80.97. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 52-week low of $76.05 and a 52-week high of $91.25. The company has a market cap of $39.61 billion, a P/E ratio of 17.58, a PEG ratio of 2.94 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the previous year, the firm earned $1.43 EPS. The company's quarterly revenue was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. Public Service Enterprise Group's payout ratio is presently 59.29%.

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.

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