Public Service Enterprise Group Incorporated $PEG Holdings Boosted by Brighton Jones LLC

Brighton Jones LLC raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,813 shares of the utilities provider’s stock after buying an additional 146 shares during the period. Brighton Jones LLC’s holdings in Public Service Enterprise Group were worth $658,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Robeco Institutional Asset Management B.V. grew its holdings in shares of Public Service Enterprise Group by 6.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider’s stock valued at $3,922,000 after acquiring an additional 2,803 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Public Service Enterprise Group by 2.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider’s stock valued at $5,812,000 after acquiring an additional 1,652 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Public Service Enterprise Group by 22.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 73,542 shares of the utilities provider’s stock valued at $6,192,000 after acquiring an additional 13,540 shares in the last quarter. Chemistry Wealth Management LLC purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at $579,000. Finally, Intech Investment Management LLC grew its holdings in shares of Public Service Enterprise Group by 69.6% during the 1st quarter. Intech Investment Management LLC now owns 23,301 shares of the utilities provider’s stock valued at $1,918,000 after acquiring an additional 9,563 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Down 2.6%

PEG stock opened at $81.32 on Wednesday. The stock has a market capitalization of $40.59 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 2.56 and a beta of 0.53. The company has a 50-day moving average of $82.33 and a two-hundred day moving average of $82.42. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the company posted $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 research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PEG. UBS Group boosted their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 25th. BMO Capital Markets lowered their price target on shares of Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating on the stock in a report on Monday, October 20th. Morgan Stanley decreased their price objective on shares of 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. Barclays upped 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 report on Tuesday, October 21st. Finally, Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $91.21.

Public Service Enterprise Group Company 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.