Brighton Jones LLC Has $658,000 Position in Public Service Enterprise Group Incorporated $PEG

Brighton Jones LLC grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,813 shares of the utilities provider’s stock after buying an additional 146 shares during the period. Brighton Jones LLC’s holdings in Public Service Enterprise Group were worth $658,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Public Service Enterprise Group by 4.9% during 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 last quarter. Ameriprise Financial Inc. raised its position in shares of Public Service Enterprise Group by 2.3% during 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Public Service Enterprise Group by 20.2% during 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 last quarter. Raymond James Financial Inc. raised its position 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 worth $385,439,000 after purchasing an additional 230,636 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position 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 worth $251,979,000 after purchasing an additional 31,631 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $81.32 on Wednesday. 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 stock has a market capitalization of $40.59 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 2.56 and a beta of 0.53. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The firm’s 50-day moving average price is $82.33 and its two-hundred day moving average price is $82.42.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.07. The business had revenue of $2.81 billion during 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%. Public Service Enterprise Group’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PEG. BTIG Research began coverage on shares of Public Service Enterprise Group in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price target for the company. BMO Capital Markets dropped 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 research report on Monday, October 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Wednesday, October 8th. 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. Finally, TD Cowen began coverage on shares of Public Service Enterprise Group in a research note on Thursday, October 16th. They set a “buy” rating and a $93.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.21.

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.