Envestnet Asset Management Inc. Grows Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Envestnet Asset Management Inc. grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,013,676 shares of the utilities provider’s stock after purchasing an additional 20,864 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $85,330,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PEG. Vanguard Group Inc. raised its position in shares of Public Service Enterprise Group by 4.9% during the 1st 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 period. Nuveen LLC purchased a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at approximately $95,076,000. Cbre Investment Management Listed Real Assets LLC purchased a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at approximately $68,317,000. 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 1st 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 period. Finally, Reaves W H & Co. Inc. raised its position in shares of Public Service Enterprise Group by 58.4% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,312,292 shares of the utilities provider’s stock valued at $108,002,000 after buying an additional 483,682 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays lifted their price target on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Morgan Stanley reduced their price target on shares of 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. Evercore ISI began 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 price target on the stock. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Finally, Wells Fargo & Company began coverage on Public Service Enterprise Group in a research report on Tuesday. They issued an “equal weight” rating and a $88.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.21.

Public Service Enterprise Group Stock Down 1.2%

Shares of NYSE PEG opened at $80.27 on Thursday. The business’s 50 day moving average is $82.23 and its two-hundred day moving average is $82.40. The firm has a market cap of $40.06 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 2.49 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 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 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. 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 company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share. 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 EPS for the current year.

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.