Caisse DE Depot ET Placement DU Quebec Sells 124,496 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in Public Service Enterprise Group (PEG) by 29.5% during the first quarter, selling 124,496 shares and retaining ownership of 297,846 shares valued at approximately $24.5 million.
• Analysts have differed in their outlook for PEG, with price targets adjusted downward by several firms, while UBS Group raised its target to $103 and maintained a "buy" rating, indicating a mixed sentiment surrounding the stock.
• PEG reported $0.77 earnings per share for the last quarter, exceeding analyst expectations and achieving a 15.8% revenue growth compared to the previous year, with an FY 2025 EPS guidance set between 3.940-4.060.

Caisse DE Depot ET Placement DU Quebec cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 29.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 297,846 shares of the utilities provider's stock after selling 124,496 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.06% of Public Service Enterprise Group worth $24,513,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Synovus Financial Corp bought a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at about $254,000. Campbell & CO Investment Adviser LLC bought a new stake in Public Service Enterprise Group during the 1st quarter worth approximately $5,400,000. Jump Financial LLC increased its stake in Public Service Enterprise Group by 20.1% during the 1st quarter. Jump Financial LLC now owns 7,456 shares of the utilities provider's stock worth $614,000 after purchasing an additional 1,249 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC bought a new stake in Public Service Enterprise Group during the 1st quarter worth approximately $68,317,000. Finally, Smartleaf Asset Management LLC increased its stake in Public Service Enterprise Group by 10.9% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,583 shares of the utilities provider's stock worth $292,000 after purchasing an additional 351 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PEG shares. Morgan Stanley reduced their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. Barclays reduced their price target on 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. UBS Group increased their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday, July 25th. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. Finally, BMO Capital Markets increased their price objective on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.95.

Public Service Enterprise Group Stock Performance

Shares of PEG traded down $0.23 during midday trading on Friday, reaching $82.36. 2,254,583 shares of the stock were exchanged, compared to its average volume of 2,784,153. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve 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. The company has a market cap of $41.10 billion, a P/E ratio of 20.80, a PEG ratio of 2.86 and a beta of 0.45. The stock's 50 day simple moving average is $84.71 and its 200 day simple moving average is $82.27.

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

Public Service Enterprise Group Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's payout ratio is currently 63.64%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the transaction, the chief executive officer owned 218,328 shares in the company, valued at $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group 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.