Public Service Enterprise Group Incorporated $PEG Shares Purchased by Magnolia Capital Advisors LLC

Magnolia Capital Advisors LLC grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,055 shares of the utilities provider’s stock after acquiring an additional 1,554 shares during the quarter. Magnolia Capital Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,604,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Gilbert & Cook Inc. boosted its holdings in shares of Public Service Enterprise Group by 2.1% during the second quarter. Gilbert & Cook Inc. now owns 7,169 shares of the utilities provider’s stock valued at $603,000 after acquiring an additional 150 shares during the period. Versor Investments LP bought a new stake in shares of Public Service Enterprise Group during the second quarter valued at about $217,000. Center for Financial Planning Inc. raised its stake in shares of Public Service Enterprise Group by 6.1% during the second quarter. Center for Financial Planning Inc. now owns 4,982 shares of the utilities provider’s stock valued at $419,000 after purchasing an additional 288 shares in the last quarter. Great Lakes Retirement Inc. raised its stake in shares of Public Service Enterprise Group by 3.9% during the second quarter. Great Lakes Retirement Inc. now owns 31,196 shares of the utilities provider’s stock valued at $2,626,000 after purchasing an additional 1,181 shares in the last quarter. Finally, IFG Advisory LLC bought a new stake in shares of Public Service Enterprise Group during the second quarter valued at about $246,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. TD Cowen assumed 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. Morgan Stanley dropped 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. UBS Group boosted 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 research report on Friday, July 25th. Finally, Barclays boosted 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 research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $91.21.

Public Service Enterprise Group Trading Up 1.0%

NYSE:PEG opened at $81.36 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The stock’s 50-day moving average is $82.10 and its two-hundred day moving average is $82.35. The stock has a market cap of $40.60 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 2.46 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the business posted $0.90 EPS. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal 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.