Hanson & Doremus Investment Management Reduces Holdings in Public Service Enterprise Group Incorporated $PEG

Hanson & Doremus Investment Management lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 33.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,435 shares of the utilities provider’s stock after selling 1,215 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Public Service Enterprise Group were worth $205,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. grew its holdings in 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 valued at $3,922,000 after purchasing an additional 2,803 shares during the last quarter. Sowell Financial Services LLC purchased a new position in shares of Public Service Enterprise Group during the first quarter valued at approximately $298,000. Exchange Traded Concepts LLC grew its stake in shares of Public Service Enterprise Group by 12.7% during the first quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider’s stock valued at $327,000 after buying an additional 447 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Public Service Enterprise Group by 4.2% during 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 buying an additional 3,601 shares during the last quarter. Finally, Chemistry Wealth Management LLC purchased a new stake in shares of Public Service Enterprise Group in the second quarter worth approximately $579,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG stock opened at $82.98 on Tuesday. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The business has a 50-day moving average price of $84.27 and a 200 day moving average price of $82.23. The company has a market capitalization of $41.42 billion, a P/E ratio of 20.96, a PEG ratio of 2.86 and a beta of 0.50. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results 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 net margin of 17.78% and a return on equity of 12.08%. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the firm posted $0.63 EPS. The company’s revenue for the quarter 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, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.0%. Public Service Enterprise Group’s payout ratio is 63.64%.

Analysts Set New Price Targets

A number of research firms recently issued reports on PEG. Morgan Stanley dropped their price objective on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. UBS Group lifted their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research 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 research note on Saturday, September 6th. Barclays reduced 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 research note on Thursday, July 10th. Finally, BMO Capital Markets lifted their price objective 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. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.85.

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.