Public Service Enterprise Group Incorporated $PEG Shares Sold by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC reduced its stake in Public Service Enterprise Group by 2.7%, owning 482,988 shares valued at approximately $39.75 million after selling 13,404 shares.
• Recent analyst ratings include a price target increase by UBS Group from $97 to $103, and a consensus target price of $90.95 with a general rating of "Moderate Buy".
• Public Service Enterprise Group reported quarterly earnings, with $0.77 EPS exceeding estimates, and announced a quarterly dividend of $0.63, reflecting a 3.1% yield.

Great Lakes Advisors LLC cut its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 482,988 shares of the utilities provider's stock after selling 13,404 shares during the quarter. Great Lakes Advisors LLC owned about 0.10% of Public Service Enterprise Group worth $39,750,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Centre Asset Management LLC grew its stake in shares of Public Service Enterprise Group by 3.2% during the 1st quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock worth $324,000 after purchasing an additional 121 shares during the period. FourThought Financial Partners LLC grew its stake in shares of Public Service Enterprise Group by 2.8% during the 1st quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider's stock worth $378,000 after purchasing an additional 127 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Public Service Enterprise Group by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider's stock worth $3,523,000 after purchasing an additional 130 shares during the period. Summit Financial LLC grew its stake in shares of Public Service Enterprise Group by 2.2% during the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider's stock worth $507,000 after purchasing an additional 133 shares during the period. Finally, Apella Capital LLC grew its stake in Public Service Enterprise Group by 2.7% in the 1st quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider's stock valued at $443,000 after acquiring an additional 144 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on PEG. UBS Group increased their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday. Morgan Stanley reduced their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Barclays reduced their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Finally, BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $90.95.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction dated 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 sale, the chief executive officer owned 218,328 shares of the company's stock, valued at $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is owned by insiders.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $81.12 on Monday. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $95.22. The company has a market cap of $40.49 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 2.82 and a beta of 0.50. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The firm has a fifty day moving average of $84.55 and a 200-day moving average of $82.15.

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

Public Service Enterprise Group Dividend Announcement

The business 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 3.1%. Public Service Enterprise Group's dividend payout ratio is presently 63.64%.

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.

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