Voya Investment Management LLC Acquires 253,810 Shares of Public Service Enterprise Group Incorporated $PEG

Voya Investment Management LLC grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 18.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,645,407 shares of the utilities provider’s stock after purchasing an additional 253,810 shares during the period. Voya Investment Management LLC’s holdings in Public Service Enterprise Group were worth $137,155,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Aptus Capital Advisors LLC boosted its holdings in Public Service Enterprise Group by 3.5% in the first quarter. Aptus Capital Advisors LLC now owns 8,578 shares of the utilities provider’s stock worth $706,000 after acquiring an additional 287 shares in the last quarter. Legacy Financial Advisors Inc. increased its holdings in shares of Public Service Enterprise Group by 5.5% during the first quarter. Legacy Financial Advisors Inc. now owns 4,040 shares of the utilities provider’s stock valued at $332,000 after acquiring an additional 209 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its position in shares of Public Service Enterprise Group by 2.7% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 12,000 shares of the utilities provider’s stock worth $988,000 after purchasing an additional 314 shares during the last quarter. Credit Agricole S A boosted its stake in Public Service Enterprise Group by 7.0% in the 1st quarter. Credit Agricole S A now owns 162,674 shares of the utilities provider’s stock worth $13,388,000 after purchasing an additional 10,642 shares in the last quarter. Finally, Candriam S.C.A. grew its position in Public Service Enterprise Group by 2.4% during the 1st quarter. Candriam S.C.A. now owns 63,294 shares of the utilities provider’s stock valued at $5,209,000 after purchasing an additional 1,513 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 1.0%

Shares of PEG stock opened at $80.67 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $91.25. The stock has a market capitalization of $40.27 billion, a P/E ratio of 19.39, a P/E/G ratio of 2.44 and a beta of 0.59. The firm’s 50 day moving average is $81.76 and its 200 day moving average is $82.70.

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 for the quarter, beating the consensus estimate of $1.02 by $0.11. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The company’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 60.58%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. UBS Group decreased their target price on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a report on Wednesday. BMO Capital Markets reduced their price target on shares of 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. Barclays upped their price objective on Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. JPMorgan Chase & Co. reduced their target price on Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating for the company in a report on Friday, December 12th. Finally, TD Cowen boosted their price target on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $90.96.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

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.