Patton Albertson Miller Group LLC Has $5.51 Million Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Patton Albertson Miller Group LLC grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 65,498 shares of the utilities provider’s stock after buying an additional 2,380 shares during the period. Patton Albertson Miller Group LLC’s holdings in Public Service Enterprise Group were worth $5,514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at about $32,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at about $33,000. Marshall & Sullivan Inc. WA acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $33,000. Zions Bancorporation National Association UT acquired a new stake in Public Service Enterprise Group during the first quarter worth approximately $50,000. Finally, Sound Income Strategies LLC grew its stake in Public Service Enterprise Group by 105.9% during the first quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 361 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value 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 trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Up 1.8%

Shares of Public Service Enterprise Group stock opened at $82.30 on Friday. 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 52 week low of $74.67 and a 52 week high of $95.22. The stock has a 50 day moving average price of $84.30 and a two-hundred day moving average price of $82.20. The stock has a market capitalization of $41.07 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 2.86 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the firm posted $0.63 earnings per share. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be issued a $0.63 dividend. 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 (DPR) is currently 63.64%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PEG. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. UBS Group raised their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. BMO Capital Markets raised their target price on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 6th. Barclays decreased their target price on 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. Finally, Morgan Stanley decreased their target price on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.85.

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.