Pegasus Asset Management Inc. Buys 438 Shares of Public Service Enterprise Group Incorporated $PEG

Pegasus Asset Management Inc. boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,387 shares of the utilities provider’s stock after purchasing an additional 438 shares during the period. Pegasus Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $285,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its position in Public Service Enterprise Group by 6.2% in the first quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider’s stock valued at $3,922,000 after purchasing an additional 2,803 shares in the last quarter. Sowell Financial Services LLC bought a new position in Public Service Enterprise Group in the first quarter valued at $298,000. Exchange Traded Concepts LLC grew its position in Public Service Enterprise Group by 12.7% in the first quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider’s stock valued at $327,000 after purchasing an additional 447 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Public Service Enterprise Group by 2.5% in the second 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. Finally, Wealth Enhancement Advisory Services LLC grew its position in Public Service Enterprise Group by 4.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider’s stock valued at $7,417,000 after purchasing an additional 3,601 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $80.57 on Monday. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The firm has a 50-day moving average of $83.17 and a 200-day moving average of $82.19. The stock has a market cap of $40.21 billion, a PE ratio of 20.35, a P/E/G ratio of 2.80 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the company earned $0.63 EPS. The business’s revenue was up 15.8% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were paid a $0.63 dividend. The ex-dividend date was Tuesday, September 9th. This represents a $2.52 annualized dividend and a yield of 3.1%. Public Service Enterprise Group’s payout ratio is 63.64%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PEG. Evercore ISI began coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 target price for the company. Barclays cut their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, July 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Wednesday, October 8th. Morgan Stanley cut their price target on shares of 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. Finally, UBS Group increased their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.95.

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.