AlphaQuest LLC Cuts Position in Public Service Enterprise Group Incorporated $PEG

AlphaQuest LLC trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 28.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,528 shares of the utilities provider’s stock after selling 3,061 shares during the period. AlphaQuest LLC’s holdings in Public Service Enterprise Group were worth $634,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Catalyst Capital Advisors LLC increased its stake in shares of Public Service Enterprise Group by 29.2% during the second quarter. Catalyst Capital Advisors LLC now owns 1,360 shares of the utilities provider’s stock worth $114,000 after buying an additional 307 shares during the period. Carnegie Investment Counsel acquired a new position in Public Service Enterprise Group in the second quarter valued at approximately $243,000. Bleakley Financial Group LLC boosted its holdings in Public Service Enterprise Group by 2.4% in the second quarter. Bleakley Financial Group LLC now owns 62,163 shares of the utilities provider’s stock valued at $5,233,000 after purchasing an additional 1,438 shares in the last quarter. Ethic Inc. boosted its holdings in Public Service Enterprise Group by 15.0% in the second quarter. Ethic Inc. now owns 17,578 shares of the utilities provider’s stock valued at $1,468,000 after purchasing an additional 2,294 shares in the last quarter. Finally, Caliber Wealth Management LLC KS boosted its holdings in Public Service Enterprise Group by 3.8% in the second quarter. Caliber Wealth Management LLC KS now owns 29,977 shares of the utilities provider’s stock valued at $2,523,000 after purchasing an additional 1,084 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

PEG stock opened at $83.54 on Tuesday. The company has a market capitalization of $41.69 billion, a P/E ratio of 21.10, a PEG ratio of 2.55 and a beta of 0.53. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The business has a 50 day simple moving average of $82.39 and a 200-day simple moving average of $82.42. 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 posted its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The company’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PEG. BMO Capital Markets lowered their price target on Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating for the company in a report on Monday, October 20th. BTIG Research began coverage on Public Service Enterprise Group in a report on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price target for the company. UBS Group upped their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 25th. Evercore ISI began coverage on Public Service Enterprise Group in a report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target for the company. Finally, Morgan Stanley lowered their price target on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $91.79.

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.