International Assets Investment Management LLC Cuts Position in Public Service Enterprise Group Incorporated $PEG

International Assets Investment Management LLC cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.9% during the second quarter, HoldingsChannel reports. The fund owned 4,994 shares of the utilities provider’s stock after selling 202 shares during the quarter. International Assets Investment Management LLC’s holdings in Public Service Enterprise Group were worth $420,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PEG. Keener Financial Planning LLC acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth about $27,000. Headlands Technologies LLC acquired a new position in Public Service Enterprise Group in the 1st quarter worth about $32,000. Wealth Preservation Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter valued at approximately $33,000. Marshall & Sullivan Inc. WA purchased a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $33,000. Finally, Costello Asset Management INC grew its position in shares of Public Service Enterprise Group by 290.6% in the second quarter. Costello Asset Management INC now owns 539 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 401 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PEG has been the subject of a number of analyst reports. Morgan Stanley dropped their price target on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. UBS Group increased their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. BMO Capital Markets lowered their price objective on Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating for the company in a research report on Monday. Finally, TD Cowen initiated coverage on Public Service Enterprise Group in a research report on Thursday, October 16th. They issued a “buy” rating and a $93.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $91.79.

Public Service Enterprise Group Trading Up 0.7%

PEG opened at $83.72 on Thursday. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. The business has a fifty day simple moving average of $82.53 and a 200-day simple moving average of $82.29. The firm has a market cap of $41.78 billion, a P/E ratio of 21.14, a P/E/G ratio of 2.55 and a beta of 0.53. 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 released its quarterly 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. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the business posted $0.63 earnings per share. The company’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. On average, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current 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.