Forsta AP Fonden Has $9.34 Million Position in Public Service Enterprise Group Incorporated $PEG

Forsta AP Fonden lessened its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 45.2% in the second quarter, HoldingsChannel.com reports. The fund owned 111,000 shares of the utilities provider’s stock after selling 91,600 shares during the period. Forsta AP Fonden’s holdings in Public Service Enterprise Group were worth $9,344,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. TFB Advisors LLC raised its position in Public Service Enterprise Group by 4.8% during the second quarter. TFB Advisors LLC now owns 2,611 shares of the utilities provider’s stock valued at $220,000 after purchasing an additional 119 shares in the last quarter. Massachusetts Wealth Management raised its holdings in shares of Public Service Enterprise Group by 2.5% during the 2nd quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock worth $431,000 after buying an additional 125 shares in the last quarter. Apollon Wealth Management LLC lifted its position in shares of Public Service Enterprise Group by 0.8% during the 2nd quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider’s stock worth $1,315,000 after buying an additional 126 shares during the last quarter. FourThought Financial Partners LLC lifted its position 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 buying an additional 127 shares during the last quarter. Finally, Summit Financial LLC boosted its stake in Public Service Enterprise Group by 2.2% in the first quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock valued at $507,000 after buying an additional 133 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on PEG shares. Wells Fargo & Company began coverage on Public Service Enterprise Group in a research note on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 target price for the company. Morgan Stanley decreased their price target on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $89.00 to $90.00 in a research report on Thursday, November 6th. TD Cowen raised their target price on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.19.

Insider Buying and Selling at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $82.33, for a total value of $405,063.60. Following the completion of the sale, the senior vice president directly owned 26,134 shares in the company, valued at $2,151,612.22. This represents a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Stock Down 1.4%

Shares of NYSE PEG opened at $82.35 on Friday. The company has a 50 day simple moving average of $82.13 and a 200 day simple moving average of $82.38. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $95.22. The firm has a market cap of $41.11 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

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.