Gables Capital Management Inc. Sells 150 Shares of Public Service Enterprise Group Incorporated $PEG

Gables Capital Management Inc. lowered its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 20.0% in the second quarter, HoldingsChannel.com reports. The firm owned 600 shares of the utilities provider’s stock after selling 150 shares during the quarter. Gables Capital Management Inc.’s holdings in Public Service Enterprise Group were worth $51,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Keener Financial Planning LLC bought a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $27,000. Headlands Technologies LLC bought a new stake in Public Service Enterprise Group in the 1st quarter valued at about $32,000. Wealth Preservation Advisors LLC bought a new stake in Public Service Enterprise Group in the 1st quarter valued at about $33,000. Marshall & Sullivan Inc. WA bought a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $33,000. Finally, Costello Asset Management INC lifted its holdings in shares of Public Service Enterprise Group by 290.6% during the 2nd 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 period. Institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on PEG shares. TD Cowen started coverage on shares of Public Service Enterprise Group in a report on Thursday, October 16th. They set a “buy” rating and a $93.00 price target for the company. UBS Group upped their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Barclays upped their price target on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Finally, BMO Capital Markets cut their price target on shares of Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating for the company in a report on Monday. 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.23.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $83.12 on Wednesday. The company has a market cap of $41.49 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.60 and a beta of 0.53. 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 simple moving average of $82.61 and a 200 day simple moving average of $82.28. 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 issued its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.70 by $0.07. The business 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 was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

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.