Prime Capital Investment Advisors LLC Sells 972 Shares of Public Service Enterprise Group Incorporated $PEG

Prime Capital Investment Advisors LLC trimmed its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,089 shares of the utilities provider’s stock after selling 972 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Public Service Enterprise Group were worth $597,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at approximately $32,000. Marshall & Sullivan Inc. WA acquired a new stake in Public Service Enterprise Group in the 2nd quarter worth about $33,000. Wealth Preservation Advisors LLC acquired a new position in Public Service Enterprise Group in the 1st quarter valued at $33,000. Zions Bancorporation National Association UT acquired a new position in Public Service Enterprise Group in the first quarter valued at about $50,000. Finally, Sound Income Strategies LLC raised its position in shares of Public Service Enterprise Group by 105.9% in the 1st quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider’s stock valued at $58,000 after buying an additional 361 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Evercore ISI started coverage on Public Service Enterprise Group in a report on Tuesday. They set an “in-line” rating and a $83.00 price target for the company. BMO Capital Markets upped their price target on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, August 6th. Morgan Stanley decreased their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Barclays decreased their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, July 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Wednesday. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.95.

Public Service Enterprise Group Stock Down 1.0%

Public Service Enterprise Group stock opened at $80.57 on Friday. The firm’s 50-day simple moving average is $83.17 and its 200 day simple moving average is $82.18. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The stock has a market cap of $40.21 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the firm earned $0.63 EPS. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $2.52 annualized dividend and a yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio is 63.64%.

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.