Metis Global Partners LLC Raises Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Metis Global Partners LLC boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 58,748 shares of the utilities provider’s stock after acquiring an additional 3,519 shares during the quarter. Metis Global Partners LLC’s holdings in Public Service Enterprise Group were worth $4,945,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of PEG. DekaBank Deutsche Girozentrale increased its position in shares of Public Service Enterprise Group by 1.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 114,989 shares of the utilities provider’s stock worth $9,254,000 after purchasing an additional 1,960 shares in the last quarter. Leavell Investment Management Inc. increased its stake in Public Service Enterprise Group by 10.6% during the first quarter. Leavell Investment Management Inc. now owns 6,851 shares of the utilities provider’s stock worth $564,000 after acquiring an additional 654 shares during the last quarter. Allworth Financial LP increased its position in shares of Public Service Enterprise Group by 7.8% during the first quarter. Allworth Financial LP now owns 11,693 shares of the utilities provider’s stock valued at $956,000 after acquiring an additional 849 shares during the last quarter. Cerity Partners LLC increased its holdings in Public Service Enterprise Group by 8.4% in the 1st quarter. Cerity Partners LLC now owns 108,609 shares of the utilities provider’s stock valued at $8,938,000 after purchasing an additional 8,442 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in Public Service Enterprise Group by 2.8% during the 1st quarter. Arizona State Retirement System now owns 146,215 shares of the utilities provider’s stock valued at $12,033,000 after acquiring an additional 3,941 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PEG. Wells Fargo & Company assumed coverage on Public Service Enterprise Group in a research report on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price objective on the stock. Morgan Stanley lowered their target price 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. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Evercore ISI initiated coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price objective on the stock. Finally, Barclays upped their target price on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.19.

Public Service Enterprise Group Stock Up 1.0%

PEG stock opened at $83.26 on Friday. The stock has a market capitalization of $41.56 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55. The company has a fifty day moving average of $82.02 and a 200-day moving average of $82.34. 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 one year low of $74.67 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. The business had revenue of $3.23 billion for 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 revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current 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.