Assetmark Inc. Sells 4,364 Shares of Public Service Enterprise Group Incorporated $PEG

Assetmark Inc. lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 855,001 shares of the utilities provider’s stock after selling 4,364 shares during the quarter. Assetmark Inc. owned approximately 0.17% of Public Service Enterprise Group worth $71,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of PEG. Alta Advisers Ltd purchased a new stake in Public Service Enterprise Group in the first quarter worth approximately $219,000. Vontobel Holding Ltd. bought a new stake in Public Service Enterprise Group in the first quarter worth $329,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Public Service Enterprise Group by 8.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 65,587 shares of the utilities provider’s stock worth $5,398,000 after purchasing an additional 5,037 shares during the last quarter. DAVENPORT & Co LLC bought a new stake in Public Service Enterprise Group in the first quarter worth $281,000. Finally, Miller Howard Investments Inc. NY lifted its stake in Public Service Enterprise Group by 6.5% in the first quarter. Miller Howard Investments Inc. NY now owns 88,005 shares of the utilities provider’s stock worth $7,243,000 after purchasing an additional 5,364 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $80.27 on Thursday. 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 Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The stock has a 50 day moving average price of $82.23 and a two-hundred day moving average price of $82.40. The company has a market capitalization of $40.06 billion, a P/E ratio of 20.27, a PEG ratio of 2.49 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last announced 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 firm 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 business’s revenue was up 15.8% on a year-over-year basis. During the same quarter 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. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PEG. UBS Group boosted their price target 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. Wells Fargo & Company initiated coverage on shares of 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. Barclays boosted their price objective on Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Wednesday, October 8th. Finally, BMO Capital Markets lowered 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 research report on Monday, October 20th. One research 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 stock. According to data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus price target of $91.21.

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.