Midwest Trust Co Invests $352,000 in Public Service Enterprise Group Incorporated $PEG

Midwest Trust Co purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,181 shares of the utilities provider’s stock, valued at approximately $352,000.

Other large investors have also added to or reduced their stakes in the company. TFB Advisors LLC grew its stake in shares of Public Service Enterprise Group by 4.8% in the second quarter. TFB Advisors LLC now owns 2,611 shares of the utilities provider’s stock worth $220,000 after acquiring an additional 119 shares during the last quarter. Massachusetts Wealth Management raised its position in shares of Public Service Enterprise Group by 2.5% in the 2nd quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock worth $431,000 after purchasing an additional 125 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in Public Service Enterprise Group by 0.8% in the 2nd quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider’s stock worth $1,315,000 after purchasing an additional 126 shares in the last quarter. FourThought Financial Partners LLC grew its position in Public Service Enterprise Group by 2.8% during the 1st quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock valued at $378,000 after purchasing an additional 127 shares during the last quarter. Finally, Summit Financial LLC grew its position in Public Service Enterprise Group by 2.2% during the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock valued at $507,000 after purchasing an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $83.44 on Thursday. The stock has a market capitalization of $41.65 billion, a price-to-earnings ratio of 21.07, a PEG 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. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The business’s fifty day moving average price is $82.12 and its 200-day moving average price is $82.38.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. UBS Group upped their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Wells Fargo & Company initiated coverage on Public Service Enterprise Group in a research note on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 target price on the stock. Finally, Morgan Stanley decreased their price target 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. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.19.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the sale, the senior vice president owned 26,134 shares of the company’s stock, valued at $2,151,612.22. This represents a 15.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by insiders.

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.