Blue Trust Inc. Has $965,000 Holdings in Public Service Enterprise Group Incorporated $PEG

Blue Trust Inc. lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,461 shares of the utilities provider’s stock after buying an additional 313 shares during the period. Blue Trust Inc.’s holdings in Public Service Enterprise Group were worth $965,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Costello Asset Management INC raised its holdings in shares of Public Service Enterprise Group by 290.6% in the 2nd quarter. Costello Asset Management INC now owns 539 shares of the utilities provider’s stock worth $45,000 after buying an additional 401 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Public Service Enterprise Group by 7.1% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 11,464 shares of the utilities provider’s stock worth $966,000 after buying an additional 763 shares in the last quarter. Argyle Capital Management LLC raised its holdings in shares of Public Service Enterprise Group by 18.8% in the 2nd quarter. Argyle Capital Management LLC now owns 5,375 shares of the utilities provider’s stock worth $452,000 after buying an additional 850 shares in the last quarter. Callan Family Office LLC raised its holdings in shares of Public Service Enterprise Group by 119.2% in the 2nd quarter. Callan Family Office LLC now owns 14,723 shares of the utilities provider’s stock worth $1,239,000 after buying an additional 8,005 shares in the last quarter. Finally, Mainstay Capital Management LLC ADV raised its holdings in shares of Public Service Enterprise Group by 99.7% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 7,960 shares of the utilities provider’s stock worth $670,000 after buying an additional 3,974 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Wednesday. BMO Capital Markets raised 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. Morgan Stanley dropped their price target 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. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Finally, UBS Group raised their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average price target of $90.95.

Public Service Enterprise Group Stock Down 1.0%

Shares of PEG opened at $80.57 on Friday. The firm has a market capitalization of $40.21 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 2.80 and a beta of 0.53. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The business’s fifty day moving average price is $83.17 and its two-hundred day moving average price is $82.18. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22.

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. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 63.64%.

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.