Public Service Enterprise Group Incorporated $PEG Shares Sold by Rossby Financial LCC

Rossby Financial LCC lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,190 shares of the utilities provider’s stock after selling 171 shares during the quarter. Rossby Financial LCC’s holdings in Public Service Enterprise Group were worth $184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in PEG. GAMMA Investing LLC grew its position in shares of Public Service Enterprise Group by 4.1% during the first quarter. GAMMA Investing LLC now owns 7,131 shares of the utilities provider’s stock worth $587,000 after buying an additional 279 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of 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 buying an additional 2,803 shares in the last quarter. Diversified Trust Co grew its position in shares of Public Service Enterprise Group by 26.0% during the first quarter. Diversified Trust Co now owns 5,977 shares of the utilities provider’s stock worth $492,000 after buying an additional 1,233 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Public Service Enterprise Group by 6.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 100,969 shares of the utilities provider’s stock worth $8,242,000 after buying an additional 6,428 shares in the last quarter. Finally, Alta Advisers Ltd acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth approximately $219,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $81.32 on Wednesday. The company has a market cap of $40.59 billion, a PE ratio of 20.54, a P/E/G ratio of 2.56 and a beta of 0.53. The company has a fifty day moving average price of $82.33 and a two-hundred day moving average price of $82.42. 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 Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.07. The company had revenue of $2.81 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 15.8% compared to the same quarter last year. During the same period last year, the business posted $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Analysts Set New Price Targets

PEG has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. UBS Group lifted 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 report on Friday, July 25th. BMO Capital Markets decreased their price objective on shares of 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Wednesday, October 8th. Finally, TD Cowen started coverage on shares of Public Service Enterprise Group in a report on Thursday, October 16th. They issued a “buy” rating and a $93.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.21.

About Public Service Enterprise Group

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.