SG Americas Securities LLC Has $2.15 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Posted by Defense World Staff on Jul 22nd, 2023

SG Americas Securities LLC boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 41.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,354 shares of the utilities provider’s stock after purchasing an additional 10,082 shares during the period. SG Americas Securities LLC’s holdings in Public Service Enterprise Group were worth $2,145,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PEG. Concord Wealth Partners acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at $25,000. Cranbrook Wealth Management LLC acquired a new stake in Public Service Enterprise Group during the 1st quarter worth about $25,000. Boyd Watterson Asset Management LLC OH acquired a new stake in Public Service Enterprise Group during the 4th quarter worth about $27,000. Romano Brothers AND Company acquired a new stake in Public Service Enterprise Group during the 4th quarter worth about $30,000. Finally, Ahrens Investment Partners LLC acquired a new stake in Public Service Enterprise Group during the 1st quarter worth about $31,000. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 4,168 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $63.01, for a total transaction of $262,625.68. Following the transaction, the chief executive officer now directly owns 122,572 shares in the company, valued at $7,723,261.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PEG shares. LADENBURG THALM/SH SH initiated coverage on Public Service Enterprise Group in a report on Monday, April 3rd. They set a “neutral” rating and a $60.50 price target for the company. Guggenheim raised their price objective on shares of Public Service Enterprise Group from $68.00 to $69.00 in a research report on Monday, April 24th. JPMorgan Chase & Co. reduced their price objective on shares of Public Service Enterprise Group from $70.00 to $67.00 in a research report on Wednesday, June 7th. StockNews.com assumed coverage on Public Service Enterprise Group in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Finally, BMO Capital Markets upped their price target on Public Service Enterprise Group from $60.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, April 14th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group has an average rating of “Hold” and a consensus target price of $65.75.

Public Service Enterprise Group Stock Up 1.0 %

Shares of NYSE PEG opened at $65.13 on Friday. The stock has a market capitalization of $32.50 billion, a P/E ratio of 14.04, a P/E/G ratio of 4.22 and a beta of 0.57. The company has a 50-day moving average price of $62.09 and a 200-day moving average price of $61.71. Public Service Enterprise Group Incorporated has a 1 year low of $52.51 and a 1 year high of $69.94. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.79 and a quick ratio of 0.66.

Public Service Enterprise Group (NYSE:PEG – Get Free Report) last announced its earnings results on Tuesday, May 2nd. The utilities provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.18. The company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Public Service Enterprise Group had a return on equity of 12.78% and a net margin of 20.64%. Public Service Enterprise Group’s quarterly revenue was up 62.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.33 earnings per share. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.44 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.28 annualized dividend and a dividend yield of 3.50%. Public Service Enterprise Group’s payout ratio is 49.14%.

Public Service Enterprise Group Company Profile

(Free Report)

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in Mid-Atlantic United States. The company operates through PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.