Conning Inc. Cuts Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Conning Inc. lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,510 shares of the utilities provider’s stock after selling 129 shares during the quarter. Conning Inc.’s holdings in Public Service Enterprise Group were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in Public Service Enterprise Group during the 1st quarter worth about $32,000. Marshall & Sullivan Inc. WA purchased a new stake in shares of Public Service Enterprise Group during the second quarter worth approximately $33,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the first quarter worth approximately $33,000. Costello Asset Management INC increased its stake in shares of Public Service Enterprise Group by 290.6% during the second quarter. Costello Asset Management INC now owns 539 shares of the utilities provider’s stock worth $45,000 after buying an additional 401 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at approximately $50,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Barclays dropped their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, July 10th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. BMO Capital Markets increased their price objective 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. Evercore ISI assumed coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Wednesday. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.95.

Public Service Enterprise Group Trading Down 1.0%

Shares of Public Service Enterprise Group stock opened at $80.57 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 1 year low of $74.67 and a 1 year high of $95.22. The company’s fifty day moving average is $83.17 and its two-hundred day moving average is $82.18. The company has a market capitalization of $40.21 billion, a P/E ratio of 20.35, a PEG ratio of 2.80 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the company posted $0.63 earnings per share. The business’s revenue 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. Analysts forecast 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. Investors 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 63.64%.

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.