Gables Capital Management Inc. Sells 150 Shares of Public Service Enterprise Group Incorporated $PEG

Gables Capital Management Inc. cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 20.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 600 shares of the utilities provider’s stock after selling 150 shares during the quarter. Gables Capital Management Inc.’s holdings in Public Service Enterprise Group were worth $51,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Public Service Enterprise Group by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock worth $5,247,586,000 after purchasing an additional 2,986,646 shares during the last quarter. Nuveen LLC acquired a new position in shares of Public Service Enterprise Group during the 1st quarter worth about $95,076,000. Cbre Investment Management Listed Real Assets LLC acquired a new position in shares of Public Service Enterprise Group during the 1st quarter worth about $68,317,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Public Service Enterprise Group by 20.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider’s stock worth $395,354,000 after purchasing an additional 806,782 shares during the last quarter. Finally, Reaves W H & Co. Inc. increased its stake in shares of Public Service Enterprise Group by 58.4% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,312,292 shares of the utilities provider’s stock worth $108,002,000 after purchasing an additional 483,682 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Down 2.0%

Shares of PEG opened at $83.12 on Wednesday. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. The firm has a market cap of $41.49 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 2.60 and a beta of 0.53. The firm’s 50-day simple moving average is $82.61 and its 200 day simple moving average is $82.28. 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 (NYSE:PEG) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating 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 business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the business earned $0.63 EPS. Public Service Enterprise Group’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. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PEG shares. UBS Group boosted 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. Barclays boosted their price objective on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday. BMO Capital Markets lowered their price objective on shares of Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating on the stock in a research note on Monday. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $91.23.

Public Service Enterprise Group Profile

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.