Asset Management One Co. Ltd. Reduces Holdings in Public Service Enterprise Group Incorporated $PEG

Asset Management One Co. Ltd. reduced its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 319,507 shares of the utilities provider’s stock after selling 19,690 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Public Service Enterprise Group were worth $26,896,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of PEG. Carnegie Investment Counsel acquired a new stake in shares of Public Service Enterprise Group in the second quarter worth approximately $243,000. Bleakley Financial Group LLC boosted its position in shares of Public Service Enterprise Group by 2.4% in the second quarter. Bleakley Financial Group LLC now owns 62,163 shares of the utilities provider’s stock worth $5,233,000 after acquiring an additional 1,438 shares during the last quarter. Ethic Inc. boosted its position in shares of Public Service Enterprise Group by 15.0% in the second quarter. Ethic Inc. now owns 17,578 shares of the utilities provider’s stock worth $1,468,000 after acquiring an additional 2,294 shares during the last quarter. Caliber Wealth Management LLC KS boosted its position in shares of Public Service Enterprise Group by 3.8% in the second quarter. Caliber Wealth Management LLC KS now owns 29,977 shares of the utilities provider’s stock worth $2,523,000 after acquiring an additional 1,084 shares during the last quarter. Finally, TFB Advisors LLC boosted its position 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. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PEG shares. BMO Capital Markets decreased their price objective on shares of Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating for the company in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Wednesday, October 8th. Evercore ISI began 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 target for the company. TD Cowen began coverage on shares of Public Service Enterprise Group in a research report on Thursday, October 16th. They set a “buy” rating and a $93.00 price target for the company. Finally, BTIG Research initiated coverage on shares of Public Service Enterprise Group in a research report on Wednesday. They set a “buy” rating and a $98.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $91.79.

Public Service Enterprise Group Stock Performance

PEG stock opened at $83.02 on Friday. The company has a market capitalization of $41.43 billion, a P/E ratio of 20.96, a PEG ratio of 2.53 and a beta of 0.53. The company has a 50-day simple moving average of $82.41 and a 200 day simple moving average of $82.37. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the company earned $0.63 EPS. Public Service Enterprise Group’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. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

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.