Public Service Enterprise Group Incorporated $PEG Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 652,771 shares of the utilities provider’s stock after selling 2,749 shares during the period. PNC Financial Services Group Inc. owned approximately 0.13% of Public Service Enterprise Group worth $54,950,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. TFB Advisors LLC lifted its holdings in Public Service Enterprise Group by 4.8% in the 2nd quarter. TFB Advisors LLC now owns 2,611 shares of the utilities provider’s stock valued at $220,000 after acquiring an additional 119 shares during the last quarter. Massachusetts Wealth Management grew its stake in shares of Public Service Enterprise Group by 2.5% in the 2nd quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock worth $431,000 after purchasing an additional 125 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in shares of Public Service Enterprise Group by 0.8% in the 2nd quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider’s stock worth $1,315,000 after purchasing an additional 126 shares in the last quarter. FourThought Financial Partners LLC raised its holdings in shares of Public Service Enterprise Group by 2.8% in 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 in the last quarter. Finally, Summit Financial LLC lifted its stake in Public Service Enterprise Group by 2.2% during the first quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock valued at $507,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG stock opened at $82.35 on Friday. The firm has a 50 day moving average of $82.13 and a two-hundred day moving average of $82.38. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22. The company has a market capitalization of $41.11 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 2.46 and a beta of 0.55. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30.

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

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group stock in a transaction on Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the transaction, the senior vice president owned 26,134 shares in the company, valued at $2,151,612.22. This trade represents a 15.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PEG. Wells Fargo & Company started coverage on Public Service Enterprise Group in a research note on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price objective for the company. BTIG Research started coverage on Public Service Enterprise Group in a report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price for the company. Jefferies Financial Group raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $89.00 to $90.00 in a research note on Thursday, November 6th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Finally, UBS Group upped 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. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $91.19.

Public Service Enterprise Group Company 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.