Kingswood Wealth Advisors LLC Sells 1,950 Shares of Public Service Enterprise Group Incorporated $PEG

Kingswood Wealth Advisors LLC cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 39.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,004 shares of the utilities provider’s stock after selling 1,950 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $253,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PEG. Vanguard Group Inc. boosted its position in Public Service Enterprise Group by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock valued at $5,247,586,000 after buying an additional 2,986,646 shares during the last quarter. Nuveen LLC bought a new position in Public Service Enterprise Group in the 1st quarter valued at $95,076,000. Cbre Investment Management Listed Real Assets LLC bought a new position in Public Service Enterprise Group in the 1st quarter valued at $68,317,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Public Service Enterprise Group by 20.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider’s stock valued at $395,354,000 after buying an additional 806,782 shares during the last quarter. Finally, Reaves W H & Co. Inc. boosted its position in Public Service Enterprise Group by 58.4% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,312,292 shares of the utilities provider’s stock valued at $108,002,000 after buying an additional 483,682 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on PEG. UBS Group increased 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. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Wednesday. BMO Capital Markets increased their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a research note on Wednesday, August 6th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Finally, Evercore ISI assumed coverage on Public Service Enterprise Group in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target on the stock. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.95.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $80.57 on Friday. The company has a market capitalization of $40.21 billion, a PE ratio of 20.35, a PEG ratio of 2.80 and a beta of 0.53. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22. 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’s fifty day simple moving average is $83.17 and its 200 day simple moving average is $82.18.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.70 by $0.07. The business had revenue of $2.81 billion for 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 firm’s revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 63.64%.

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.