Empirical Asset Management LLC Sells 218 Shares of Public Service Enterprise Group Incorporated $PEG

Empirical Asset Management LLC decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,433 shares of the utilities provider’s stock after selling 218 shares during the period. Empirical Asset Management LLC’s holdings in Public Service Enterprise Group were worth $373,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Public Service Enterprise Group by 4.9% in the first quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock valued at $5,247,586,000 after buying an additional 2,986,646 shares during the period. Ameriprise Financial Inc. lifted its holdings in Public Service Enterprise Group by 2.3% in the first quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider’s stock valued at $600,317,000 after buying an additional 162,261 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Public Service Enterprise Group by 20.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider’s stock valued at $395,354,000 after buying an additional 806,782 shares during the period. Raymond James Financial Inc. lifted its holdings in Public Service Enterprise Group by 5.2% in the first quarter. Raymond James Financial Inc. now owns 4,683,338 shares of the utilities provider’s stock valued at $385,439,000 after buying an additional 230,636 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Public Service Enterprise Group by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,061,714 shares of the utilities provider’s stock valued at $251,979,000 after buying an additional 31,631 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.5%

NYSE:PEG opened at $84.77 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a 50-day moving average of $82.74 and a 200-day moving average of $82.23. The company has a market cap of $42.30 billion, a PE ratio of 21.41, a PEG ratio of 2.58 and a beta of 0.53. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22.

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, topping the consensus estimate of $0.70 by $0.07. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, equities research analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given 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 3.0%. Public Service Enterprise Group’s payout ratio is presently 63.64%.

Wall Street Analysts Forecast Growth

PEG has been the topic of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Wednesday, October 8th. Morgan Stanley dropped 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 report on Thursday, September 25th. UBS Group upped their price objective 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. Barclays dropped their price objective on shares of 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. Finally, Evercore ISI assumed coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.14.

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.