Public Service Enterprise Group Incorporated $PEG Shares Sold by Kanawha Capital Management LLC

Kanawha Capital Management LLC cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,636 shares of the utilities provider’s stock after selling 400 shares during the quarter. Kanawha Capital Management LLC’s holdings in Public Service Enterprise Group were worth $1,821,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Keener Financial Planning LLC acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $27,000. Headlands Technologies LLC acquired a new stake in Public Service Enterprise Group during the first quarter worth approximately $32,000. Marshall & Sullivan Inc. WA acquired a new stake in Public Service Enterprise Group during the second quarter worth approximately $33,000. Wealth Preservation Advisors LLC acquired a new stake in Public Service Enterprise Group during the first quarter worth approximately $33,000. Finally, Costello Asset Management INC boosted its position in 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 acquiring an additional 401 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of analyst reports. Barclays decreased their target price 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. BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 6th. TD Cowen initiated coverage on shares of Public Service Enterprise Group in a research report on Thursday. They set a “buy” rating and a $93.00 target price on the stock. Evercore ISI initiated coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.14.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $84.77 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The company has a market cap of $42.30 billion, a PE ratio of 21.41, a P/E/G ratio of 2.58 and a beta of 0.53. The company’s fifty day simple moving average is $82.74 and its 200-day simple 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.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. The business had revenue of $2.81 billion for 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 quarter in the previous year, the business posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a dividend of $0.63 per share. The ex-dividend date 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%.

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.