CX Institutional Has $278,000 Stock Holdings in Public Service Enterprise Group Incorporated $PEG

CX Institutional lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 18.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,297 shares of the utilities provider’s stock after buying an additional 520 shares during the period. CX Institutional’s holdings in Public Service Enterprise Group were worth $278,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its stake in shares of Public Service Enterprise Group by 6.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider’s stock worth $3,922,000 after buying an additional 2,803 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at about $298,000. Exchange Traded Concepts LLC raised its holdings in shares of Public Service Enterprise Group by 12.7% in the 1st 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 during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Public Service Enterprise Group by 4.2% in the 1st 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 during the period. Finally, Chemistry Wealth Management LLC bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at about $579,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the transaction, the chief executive officer owned 218,328 shares in the company, valued at $18,147,423.36. This represents a 0.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PEG shares. UBS Group upped their target price on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 25th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. BMO Capital Markets upped their target price on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a report on Wednesday, August 6th. Morgan Stanley dropped their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Barclays lowered their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, July 10th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.85.

Public Service Enterprise Group Stock Up 1.8%

Public Service Enterprise Group stock opened at $82.30 on Friday. The stock has a market cap of $41.07 billion, a P/E ratio of 20.78, a P/E/G ratio of 2.86 and a beta of 0.50. 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 Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The company’s 50-day moving average price is $84.30 and its two-hundred day moving average price is $82.20.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating 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 firm had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the firm 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. As a group, analysts expect 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 Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is presently 63.64%.

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.