Public Service Enterprise Group Incorporated $PEG Shares Sold by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,919 shares of the utilities provider’s stock after selling 663 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $3,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Massachusetts Wealth Management grew its position in Public Service Enterprise Group by 2.5% during the 2nd quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock worth $431,000 after purchasing an additional 125 shares during the period. Apollon Wealth Management LLC grew its position in Public Service Enterprise Group by 0.8% during the 2nd quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider’s stock worth $1,315,000 after purchasing an additional 126 shares during the period. FourThought Financial Partners LLC grew its position in Public Service Enterprise Group by 2.8% during the 1st quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 127 shares during the period. Oregon Public Employees Retirement Fund grew its position in Public Service Enterprise Group by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider’s stock worth $3,523,000 after purchasing an additional 130 shares during the period. Finally, Summit Financial LLC grew its position in Public Service Enterprise Group by 2.2% during the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock worth $507,000 after purchasing an additional 133 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PEG has been the topic of several analyst reports. Barclays cut their price target on 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. Morgan Stanley cut their price target on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. TD Cowen assumed coverage on shares of Public Service Enterprise Group in a research note on Thursday. They set a “buy” rating and a $93.00 target price on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $91.14.

Public Service Enterprise Group Trading Up 0.5%

PEG stock opened at $84.77 on Friday. The firm has a market cap of $42.30 billion, a P/E ratio of 21.41, a PEG ratio of 2.60 and a beta of 0.53. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22. The company’s 50-day simple moving average is $82.74 and its 200-day simple moving average is $82.22. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, topping the consensus estimate 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 company had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the business earned $0.63 EPS. Public Service Enterprise Group’s quarterly 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. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.0%. Public Service Enterprise Group’s dividend payout ratio 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.