Public Service Enterprise Group Incorporated $PEG Shares Sold by Private Wealth Management Group LLC

Private Wealth Management Group LLC lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 31.3% during the second quarter, HoldingsChannel reports. The firm owned 3,035 shares of the utilities provider’s stock after selling 1,384 shares during the quarter. Private Wealth Management Group LLC’s holdings in Public Service Enterprise Group were worth $256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Robeco Institutional Asset Management B.V. boosted its position in Public Service Enterprise Group by 6.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider’s stock worth $3,922,000 after purchasing an additional 2,803 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in Public Service Enterprise Group during the first quarter worth $298,000. Janney Montgomery Scott LLC boosted its position in Public Service Enterprise Group by 2.5% during the second quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider’s stock worth $5,812,000 after purchasing an additional 1,652 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Public Service Enterprise Group by 22.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 73,542 shares of the utilities provider’s stock worth $6,192,000 after purchasing an additional 13,540 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Public Service Enterprise Group by 12.7% during the first quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider’s stock worth $327,000 after purchasing an additional 447 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Up 0.5%

NYSE PEG opened at $84.77 on Friday. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22. The company’s 50 day moving average price is $82.74 and its 200 day moving average price is $82.23. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The firm has a market capitalization of $42.30 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.58 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the firm posted $0.63 earnings per share. Public Service Enterprise Group’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. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid a $0.63 dividend. The ex-dividend date was Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.0%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 63.64%.

Wall Street Analyst Weigh In

PEG has been the topic of a number of research analyst reports. Evercore ISI initiated coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 target price on the stock. UBS Group boosted their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. BMO Capital Markets upped their price objective on 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. Finally, Barclays reduced their price objective on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $91.14.

Get Our Latest Stock Analysis on Public Service Enterprise Group

Public Service Enterprise Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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