Public Service Enterprise Group Incorporated $PEG Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 64,961,047 shares of the utilities provider’s stock after buying an additional 1,199,371 shares during the quarter. Vanguard Group Inc. owned about 0.13% of Public Service Enterprise Group worth $5,468,421,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PEG. Vanguard Personalized Indexing Management LLC lifted its stake in Public Service Enterprise Group by 22.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 73,542 shares of the utilities provider’s stock worth $6,192,000 after acquiring an additional 13,540 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Public Service Enterprise Group by 2.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider’s stock valued at $5,812,000 after purchasing an additional 1,652 shares in the last quarter. Chemistry Wealth Management LLC purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth $579,000. Intech Investment Management LLC lifted its position in shares of Public Service Enterprise Group by 69.6% during the 1st quarter. Intech Investment Management LLC now owns 23,301 shares of the utilities provider’s stock worth $1,918,000 after purchasing an additional 9,563 shares during the last quarter. Finally, Integrity Alliance LLC. acquired a new position in shares of Public Service Enterprise Group during the first quarter worth $775,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. BMO Capital Markets cut their price target on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 4th. Barclays increased their price objective on 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. Evercore ISI assumed coverage on 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. UBS Group upped their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, TD Cowen increased their price target on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Eight 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 an average rating of “Moderate Buy” and a consensus target price of $91.19.

Public Service Enterprise Group Stock Down 1.5%

PEG opened at $81.09 on Thursday. The business’s 50-day simple moving average is $82.24 and its 200-day simple moving average is $82.45. 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. The stock has a market capitalization of $40.48 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.80 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 22.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be given a dividend of $0.63 per share. The ex-dividend date is Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.58%.

Insider Activity

In other news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group stock in a transaction on Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the transaction, the senior vice president directly owned 26,134 shares of the company’s stock, valued at $2,151,612.22. The trade was a 15.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.19% of the company’s stock.

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.