Public Service Enterprise Group Incorporated $PEG Holdings Increased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 177,681 shares of the utilities provider’s stock after acquiring an additional 10,699 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Public Service Enterprise Group were worth $14,941,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PEG. Keener Financial Planning LLC bought a new stake in Public Service Enterprise Group during the second quarter worth approximately $27,000. GoalVest Advisory LLC boosted its stake in Public Service Enterprise Group by 166.7% during the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 225 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Public Service Enterprise Group during the 1st quarter valued at $32,000. Wealth Preservation Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the 1st quarter worth $33,000. Finally, Marshall & Sullivan Inc. WA bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth $33,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Trading Up 1.0%

Shares of PEG opened at $83.26 on Friday. The business’s 50-day moving average price is $82.02 and its 200 day moving average price is $82.34. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $41.55 billion, a P/E ratio of 21.02, a P/E/G ratio of 2.46 and a beta of 0.55. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $2.80 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Analyst Ratings Changes

PEG has been the subject of several research reports. Morgan Stanley decreased their target price on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Wells Fargo & Company assumed coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 28th. They issued an “equal weight” rating and a $88.00 price target for the company. Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $89.00 to $90.00 in a research report on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Wednesday, October 8th. Finally, Evercore ISI started coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 7th. They set an “in-line” rating and a $83.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $91.19.

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.