Public Service Enterprise Group Incorporated $PEG Shares Purchased by Capital City Trust Co. FL

Capital City Trust Co. FL boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.8% in the second quarter, HoldingsChannel.com reports. The firm owned 47,136 shares of the utilities provider’s stock after acquiring an additional 853 shares during the period. Capital City Trust Co. FL’s holdings in Public Service Enterprise Group were worth $3,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its holdings in Public Service Enterprise Group by 6.2% in the first quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider’s stock worth $3,922,000 after purchasing an additional 2,803 shares during the period. Sowell Financial Services LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter valued at $298,000. Exchange Traded Concepts LLC boosted its holdings 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 acquiring an additional 447 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings 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 acquiring an additional 3,601 shares during the period. Finally, Chemistry Wealth Management LLC acquired a new position in shares of Public Service Enterprise Group during the second quarter valued at $579,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PEG shares. 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. UBS Group boosted their price target 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. BMO Capital Markets boosted their price target 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 cut their price objective on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Saturday, September 27th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.85.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $82.02 on Friday. The company has a 50-day moving average of $83.92 and a 200-day moving average of $82.22. The firm has a market cap of $40.93 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 2.85 and a beta of 0.53. 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 Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its 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. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 63.64%.

About Public Service Enterprise Group

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.