Revolve Wealth Partners LLC Purchases 691 Shares of Public Service Enterprise Group Incorporated $PEG

Revolve Wealth Partners LLC lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 21.9% in the second quarter, HoldingsChannel reports. The firm owned 3,843 shares of the utilities provider’s stock after purchasing an additional 691 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Public Service Enterprise Group were worth $323,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Massachusetts Wealth Management grew its holdings in shares of Public Service Enterprise Group by 2.5% in the second quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock valued at $431,000 after purchasing an additional 125 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in shares of Public Service Enterprise Group by 0.8% in the second quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider’s stock valued at $1,315,000 after purchasing an additional 126 shares in the last quarter. FourThought Financial Partners LLC grew its holdings in shares of Public Service Enterprise Group by 2.8% in the first quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock valued at $378,000 after purchasing an additional 127 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Public Service Enterprise Group by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider’s stock valued at $3,523,000 after purchasing an additional 130 shares in the last quarter. Finally, Summit Financial LLC boosted its stake in Public Service Enterprise Group by 2.2% during the first quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock worth $507,000 after buying an additional 133 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Up 1.3%

NYSE:PEG opened at $81.71 on Tuesday. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The company has a market cap of $40.78 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 2.80 and a beta of 0.53. The stock has a fifty day simple moving average of $83.00 and a 200-day simple moving average of $82.19. 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 released its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Barclays dropped their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, July 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Wednesday, October 8th. Evercore ISI assumed coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price objective for the company. Finally, UBS Group lifted their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.95.

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.