Wedbush Securities Inc. Has $327,000 Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Wedbush Securities Inc. decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 48.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,882 shares of the utilities provider’s stock after selling 3,722 shares during the period. Wedbush Securities Inc.’s holdings in Public Service Enterprise Group were worth $327,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TFB Advisors LLC raised its holdings in Public Service Enterprise Group by 4.8% during the second quarter. TFB Advisors LLC now owns 2,611 shares of the utilities provider’s stock worth $220,000 after buying an additional 119 shares during the last quarter. Massachusetts Wealth Management boosted its holdings in shares of Public Service Enterprise Group by 2.5% in the 2nd quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock worth $431,000 after buying an additional 125 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in Public Service Enterprise Group by 0.8% in the second quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider’s stock valued at $1,315,000 after purchasing an additional 126 shares during the last quarter. FourThought Financial Partners LLC lifted its holdings in Public Service Enterprise Group by 2.8% during the first quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock valued at $378,000 after purchasing an additional 127 shares during the last quarter. Finally, Summit Financial LLC boosted its holdings in Public Service Enterprise Group by 2.2% in the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock worth $507,000 after buying an additional 133 shares during the period. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Down 0.7%

Public Service Enterprise Group stock opened at $82.95 on Thursday. 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 quick ratio of 0.76 and a current ratio of 1.00. The company has a market cap of $41.41 billion, a PE ratio of 20.94, a PEG ratio of 2.46 and a beta of 0.55. The business’s 50-day simple moving average is $82.12 and its two-hundred day simple moving average is $82.38.

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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PEG shares. TD Cowen lifted their price objective on Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Evercore ISI initiated coverage on 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. Jefferies Financial Group raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $89.00 to $90.00 in a report on Thursday, November 6th. 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. Finally, BMO Capital Markets dropped their price target on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research note on Tuesday, November 4th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.19.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the company’s 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 $2,151,612.22. This represents a 15.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

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.