Pennsylvania Capital Management Inc. ADV Takes Position in Public Service Enterprise Group Incorporated $PEG

Pennsylvania Capital Management Inc. ADV bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, Holdings Channel.com reports. The firm bought 2,391 shares of the utilities provider’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Capital Investment Advisors LLC increased its position in Public Service Enterprise Group by 103.1% in the 2nd quarter. Capital Investment Advisors LLC now owns 5,286 shares of the utilities provider’s stock valued at $445,000 after acquiring an additional 2,683 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Public Service Enterprise Group by 2.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider’s stock worth $5,812,000 after acquiring an additional 1,652 shares in the last quarter. Invesco LLC lifted its stake in Public Service Enterprise Group by 29.5% in the 2nd quarter. Invesco LLC now owns 6,980 shares of the utilities provider’s stock valued at $588,000 after buying an additional 1,588 shares in the last quarter. GC Wealth Management RIA LLC purchased a new stake in Public Service Enterprise Group in the 2nd quarter valued at approximately $269,000. Finally, Global Trust Asset Management LLC lifted its stake in Public Service Enterprise Group by 1,471.0% in the 2nd quarter. Global Trust Asset Management LLC now owns 2,168 shares of the utilities provider’s stock valued at $183,000 after buying an additional 2,030 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $82.98 on Tuesday. The firm’s 50 day moving average is $84.27 and its two-hundred day moving average is $82.23. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. The firm 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 current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS 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 company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the business earned $0.63 earnings per share. Public Service Enterprise Group’s revenue 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. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business 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 dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 63.64%.

Analysts Set New Price Targets

PEG has been the subject of a number of research analyst reports. UBS Group upped their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 25th. BMO Capital Markets increased their price target on 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. Wall Street Zen upgraded 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 report on Thursday, July 10th. Finally, Morgan Stanley cut 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, September 25th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.