Metis Global Partners LLC Raises Stake in Public Service Enterprise Group Incorporated $PEG

Metis Global Partners LLC lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.4% during the second quarter, HoldingsChannel.com reports. The firm owned 58,748 shares of the utilities provider’s stock after purchasing an additional 3,519 shares during the period. Metis Global Partners LLC’s holdings in Public Service Enterprise Group were worth $4,945,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Keener Financial Planning LLC purchased a new stake in Public Service Enterprise Group during the second quarter worth about $27,000. GoalVest Advisory LLC increased its holdings in Public Service Enterprise Group by 166.7% in the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after buying an additional 225 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at approximately $32,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the 1st quarter worth approximately $33,000. Finally, Marshall & Sullivan Inc. WA acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 1.0%

PEG opened at $83.26 on Friday. The firm has a market cap of $41.56 billion, a P/E ratio of 21.02, a PEG ratio of 2.46 and a beta of 0.55. The business’s fifty day simple moving average is $82.02 and its 200 day simple moving average is $82.34. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. 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 announced 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 net margin of 17.78% and a return on equity of 12.08%. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The firm’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 anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PEG. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Wednesday, October 8th. TD Cowen raised their price target on Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday. Jefferies Financial Group raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $89.00 to $90.00 in a research note on Thursday. Barclays increased their price objective on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Finally, Evercore ISI started 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 target price for the company. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $91.19.

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.