The Public Service Enterprise Group Incorporated (NYSE:PEG) has seen a mix of fluctuations and gains in recent times. Mn Services Vermogensbeheer B.V. and Retirement Systems of Alabama among others reduced their stake in PSEG, potentially due to its accumulated debt load. Nevertheless, the company boasts a strong institutional backing with a 76% ownership. Despite minor fluctuations in stock performance, PSEG stock has consistently outperformed the market. A sense of uncertainty remains, however, as the price is viewed as misaligned with earnings. Despite this uncertainty, Firms like Bowman & Co S.C. and SteelPeak Wealth LLC have made new investments in the company. Insider trading activities noted include Tamara Linde and Ralph Larossa selling chunk of their shares.
PSEG remains a strong player among utilities stocks. Q1 and Q2 2024 earning results noted misses in estimates despite revenue rise. Positive news like increased price target, dividend declaration, and net income gain contribute to its positive outlook. A notable aspect is PSEG’s continuous investment in infrastructure despite its weak financial position. Ratings upgrades and a 5.3% dividend hike further boosted its overall outlook.
Public Service Enterprise Group Incorporated PEG News Analytics from Thu, 29 Sep 2022 07:00:00 GMT to Sun, 25 Aug 2024 15:14:36 GMT - Rating 5 - Innovation 2 - Information 7 - Rumor -1
