ProShare Advisors LLC Boosts Holdings in Public Service Enterprise Group Incorporated $PEG

ProShare Advisors LLC grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 13.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,658 shares of the utilities provider’s stock after purchasing an additional 10,246 shares during the period. ProShare Advisors LLC’s holdings in Public Service Enterprise Group were worth $7,463,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Profund Advisors LLC boosted its position in Public Service Enterprise Group by 30.3% during the 2nd quarter. Profund Advisors LLC now owns 25,754 shares of the utilities provider’s stock valued at $2,168,000 after acquiring an additional 5,986 shares in the last quarter. Midwest Trust Co purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $352,000. CSM Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 1.6% in the 2nd quarter. CSM Advisors LLC now owns 88,609 shares of the utilities provider’s stock valued at $7,459,000 after purchasing an additional 1,410 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Public Service Enterprise Group by 2,187.5% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,375 shares of the utilities provider’s stock valued at $9,628,000 after purchasing an additional 109,375 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Public Service Enterprise Group by 7.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 949,372 shares of the utilities provider’s stock worth $79,918,000 after purchasing an additional 63,930 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.4%

NYSE:PEG opened at $83.44 on Thursday. The company has a market cap of $41.65 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The company has a 50 day simple moving average of $82.12 and a two-hundred day simple moving average of $82.38. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period last year, the business posted $0.90 EPS. The company’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. Research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Wednesday, October 8th. UBS Group raised their price target on shares of 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. Jefferies Financial Group raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $89.00 to $90.00 in a research report on Thursday, November 6th. BMO Capital Markets cut their target price on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 4th. Finally, Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $91.19.

Insider Activity

In other news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the sale, the senior vice president owned 26,134 shares of the company’s stock, valued at $2,151,612.22. This represents a 15.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group 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.