Midwest Trust Co Takes $352,000 Position in Public Service Enterprise Group Incorporated $PEG

Midwest Trust Co acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 4,181 shares of the utilities provider’s stock, valued at approximately $352,000.

Other institutional investors also recently bought and sold shares of the company. New York State Common Retirement Fund raised its stake in shares of Public Service Enterprise Group by 8.6% in the first quarter. New York State Common Retirement Fund now owns 276,068 shares of the utilities provider’s stock worth $22,720,000 after buying an additional 21,886 shares during the period. Apollon Wealth Management LLC grew its stake in shares of Public Service Enterprise Group by 2.6% during the 1st quarter. Apollon Wealth Management LLC now owns 15,495 shares of the utilities provider’s stock valued at $1,275,000 after acquiring an additional 395 shares during the period. Victory Capital Management Inc. increased its holdings in Public Service Enterprise Group by 29.1% in the 1st quarter. Victory Capital Management Inc. now owns 658,550 shares of the utilities provider’s stock worth $54,199,000 after acquiring an additional 148,604 shares in the last quarter. Private Wealth Management Group LLC increased its holdings in Public Service Enterprise Group by 407.9% in the 1st quarter. Private Wealth Management Group LLC now owns 4,419 shares of the utilities provider’s stock worth $364,000 after acquiring an additional 3,549 shares in the last quarter. Finally, Hudock Inc. raised its stake in Public Service Enterprise Group by 11.1% during the 1st quarter. Hudock Inc. now owns 5,595 shares of the utilities provider’s stock worth $461,000 after acquiring an additional 557 shares during the period. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Performance

PEG opened at $83.44 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The stock has a market capitalization of $41.65 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.46 and a beta of 0.55. The company has a fifty day moving average of $82.12 and a 200 day moving average of $82.38. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22.

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

Insider Activity at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the transaction, the senior vice president directly owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. This represents a 15.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PEG shares. 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 report on Tuesday, October 21st. BTIG Research started coverage on shares of Public Service Enterprise Group in a research note on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price on the stock. Morgan Stanley dropped their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. 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 report on Wednesday, November 5th. Finally, UBS Group boosted their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.