Credit Agricole S A Increases Position in Public Service Enterprise Group Incorporated $PEG

Credit Agricole S A grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 162,674 shares of the utilities provider’s stock after buying an additional 10,642 shares during the period. Credit Agricole S A’s holdings in Public Service Enterprise Group were worth $13,388,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Centre Asset Management LLC raised its holdings in shares of Public Service Enterprise Group by 3.2% in the first quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider’s stock valued at $324,000 after buying an additional 121 shares during the last quarter. FourThought Financial Partners LLC raised its holdings in shares of Public Service Enterprise Group by 2.8% in the first quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock valued at $378,000 after buying an additional 127 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Public Service Enterprise Group by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider’s stock valued at $3,523,000 after buying an additional 130 shares during the last quarter. Apella Capital LLC increased its stake in shares of Public Service Enterprise Group by 2.7% during the first quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider’s stock worth $443,000 after acquiring an additional 144 shares during the period. Finally, Net Worth Advisory Group increased its stake in shares of Public Service Enterprise Group by 5.6% during the first quarter. Net Worth Advisory Group now owns 2,809 shares of the utilities provider’s stock worth $231,000 after acquiring an additional 148 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Evercore ISI dropped their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Guggenheim dropped their price target on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 6th. UBS Group boosted their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Finally, Barclays dropped 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 note on Thursday, July 10th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $90.95.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the 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 sale, the chief executive officer directly owned 218,328 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Up 0.6%

Shares of PEG opened at $85.0730 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The firm’s 50-day moving average is $84.50 and its two-hundred day moving average is $82.32. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The firm has a market capitalization of $42.46 billion, a P/E ratio of 21.48, a PEG ratio of 2.94 and a beta of 0.45.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the business posted $0.63 earnings per share. The firm’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. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business 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 dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, September 9th. 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.