Nisa Investment Advisors LLC Sells 2,619 Shares of Public Service Enterprise Group Incorporated $PEG

Nisa Investment Advisors LLC reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 79,269 shares of the utilities provider’s stock after selling 2,619 shares during the period. Nisa Investment Advisors LLC’s holdings in Public Service Enterprise Group were worth $6,673,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Public Service Enterprise Group by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock valued at $5,247,586,000 after purchasing an additional 2,986,646 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Public Service Enterprise Group by 2.3% during the first quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider’s stock worth $600,317,000 after buying an additional 162,261 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Public Service Enterprise Group by 20.2% in the first 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 valued at $395,354,000 after buying an additional 806,782 shares during the period. Raymond James Financial Inc. lifted its holdings in Public Service Enterprise Group by 5.2% in the first quarter. Raymond James Financial Inc. now owns 4,683,338 shares of the utilities provider’s stock valued at $385,439,000 after buying an additional 230,636 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Public Service Enterprise Group by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,061,714 shares of the utilities provider’s stock valued at $251,979,000 after acquiring an additional 31,631 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. BMO Capital Markets dropped their price objective 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 set a “buy” rating and a $98.00 target price on the stock. Wells Fargo & Company began coverage on Public Service Enterprise Group in a research note on Tuesday. They issued an “equal weight” rating and a $88.00 price target for the company. Finally, Evercore ISI assumed coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.21.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $81.32 on Wednesday. The firm has a market cap of $40.59 billion, a P/E ratio of 20.54, a PEG ratio of 2.56 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 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’s 50 day moving average price is $82.33 and its two-hundred day moving average price is $82.42.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.07. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 earnings per share. 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 EPS for the current fiscal year.

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.