Public Service Enterprise Group Incorporated $PEG Shares Bought by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 42.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,470 shares of the utilities provider’s stock after acquiring an additional 7,926 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Public Service Enterprise Group were worth $2,228,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEG. Columbia Bank boosted its stake in Public Service Enterprise Group by 22.1% during the 2nd quarter. Columbia Bank now owns 9,437 shares of the utilities provider’s stock valued at $770,000 after purchasing an additional 1,711 shares in the last quarter. Laurel Wealth Advisors LLC lifted its holdings in shares of Public Service Enterprise Group by 8,318.0% in the second quarter. Laurel Wealth Advisors LLC now owns 21,466 shares of the utilities provider’s stock valued at $1,807,000 after buying an additional 21,211 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in Public Service Enterprise Group by 6.6% during the second quarter. Steward Partners Investment Advisory LLC now owns 124,664 shares of the utilities provider’s stock valued at $10,494,000 after buying an additional 7,693 shares in the last quarter. CreativeOne Wealth LLC boosted its stake in Public Service Enterprise Group by 6.6% during the second quarter. CreativeOne Wealth LLC now owns 5,881 shares of the utilities provider’s stock valued at $495,000 after buying an additional 365 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new position in Public Service Enterprise Group during the second quarter worth about $315,000. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PEG. Evercore ISI initiated coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target for the company. Barclays increased their target price 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. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Jefferies Financial Group raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and upped their price target for the company from $89.00 to $90.00 in a report on Thursday, November 6th. Finally, Morgan Stanley cut their price objective on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average price target of $91.19.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $82.33, for a total value of $405,063.60. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Up 1.5%

PEG stock opened at $83.38 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a market capitalization of $41.62 billion, a P/E ratio of 21.06, a P/E/G ratio of 2.46 and a beta of 0.55. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22. The company’s 50 day simple moving average is $82.29 and its 200-day simple moving average is $82.55.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 EPS 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 during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the business posted $0.90 EPS. The company’s revenue 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 year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be issued a dividend of $0.63 per share. The ex-dividend date is Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.0%. Public Service Enterprise Group’s payout ratio is currently 60.58%.

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.