KBC Group NV Sells 3,073 Shares of Public Service Enterprise Group Incorporated $PEG

KBC Group NV cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.7% in the second quarter, Holdings Channel.com reports. The fund owned 62,632 shares of the utilities provider’s stock after selling 3,073 shares during the quarter. KBC Group NV’s holdings in Public Service Enterprise Group were worth $5,272,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Keener Financial Planning LLC bought a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at $27,000. GoalVest Advisory LLC boosted its holdings in Public Service Enterprise Group by 166.7% in the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 225 shares in the last quarter. Headlands Technologies LLC acquired a new position in Public Service Enterprise Group during the first quarter worth $32,000. Wealth Preservation Advisors LLC bought a new position in Public Service Enterprise Group during the first quarter valued at about $33,000. Finally, Marshall & Sullivan Inc. WA acquired a new stake in shares of Public Service Enterprise Group in the second quarter worth about $33,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.5%

Shares of Public Service Enterprise Group stock opened at $82.81 on Friday. The company has a market cap of $41.34 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 2.46 and a beta of 0.55. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $95.22. The company’s fifty day simple moving average is $82.16 and its 200-day simple moving average is $82.40. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG) last posted 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. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the business posted $0.90 EPS. The business’s quarterly revenue was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the transaction, the senior vice president directly owned 26,134 shares in the company, valued at $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PEG shares. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. BMO Capital Markets decreased their target price on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research report on Tuesday, November 4th. Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and increased their price target for the company from $89.00 to $90.00 in a report on Thursday, November 6th. Evercore ISI began coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price objective for the company. Finally, BTIG Research assumed coverage on shares of Public Service Enterprise Group in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $91.19.

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.