First Horizon Advisors Inc. Purchases 14,872 Shares of Public Service Enterprise Group Incorporated $PEG

First Horizon Advisors Inc. lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 407,569 shares of the utilities provider’s stock after purchasing an additional 14,872 shares during the period. First Horizon Advisors Inc. owned 0.08% of Public Service Enterprise Group worth $34,309,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PEG. Vontobel Holding Ltd. acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at approximately $329,000. DAVENPORT & Co LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at approximately $281,000. OneDigital Investment Advisors LLC increased its holdings in shares of Public Service Enterprise Group by 5.5% in the first quarter. OneDigital Investment Advisors LLC now owns 15,165 shares of the utilities provider’s stock valued at $1,248,000 after purchasing an additional 788 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at approximately $201,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Public Service Enterprise Group by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 992,812 shares of the utilities provider’s stock valued at $81,708,000 after purchasing an additional 27,472 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PEG shares. 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. 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 objective on the stock. BMO Capital Markets cut their price objective on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research report on Tuesday. Evercore ISI began coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price objective on the stock. Finally, Morgan Stanley cut their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $91.04.

Public Service Enterprise Group Stock Up 0.5%

Public Service Enterprise Group stock opened at $81.81 on Wednesday. The firm has a market capitalization of $40.83 billion, a PE ratio of 20.66, a P/E/G ratio of 2.46 and a beta of 0.55. The company’s 50-day moving average is $82.07 and its 200-day moving average is $82.33. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. 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 (NYSE:PEG) last released its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.11. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 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 22.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Company 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.