Public Service Enterprise Group Incorporated $PEG Shares Purchased by Quadrant Capital Group LLC

Quadrant Capital Group LLC boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 9.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,736 shares of the utilities provider’s stock after buying an additional 724 shares during the period. Quadrant Capital Group LLC’s holdings in Public Service Enterprise Group were worth $735,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PEG. Keener Financial Planning LLC acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $27,000. GoalVest Advisory LLC increased its holdings in Public Service Enterprise Group by 166.7% in the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 225 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Public Service Enterprise Group in the first quarter valued at approximately $32,000. Wealth Preservation Advisors LLC acquired a new position in Public Service Enterprise Group during the first quarter worth $33,000. Finally, Marshall & Sullivan Inc. WA purchased a new position in shares of Public Service Enterprise Group during the second quarter worth $33,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 2.3%

PEG stock opened at $81.57 on Tuesday. The company’s 50 day moving average price is $82.33 and its 200 day moving average price is $82.68. The firm has a market capitalization of $40.72 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.46 and a beta of 0.55. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $94.99. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00.

Public Service Enterprise Group (NYSE:PEG) last issued 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 net margin of 17.78% and a return on equity of 12.08%. The company 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 firm earned $0.90 earnings per share. The firm’s quarterly 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. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be paid a $0.63 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 60.58%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group stock in a transaction dated 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 sale, the senior vice president directly owned 26,134 shares of the company’s stock, valued at $2,151,612.22. The trade was a 15.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PEG has been the topic of several research analyst reports. Barclays boosted their price objective on 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. Jefferies Financial Group raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $89.00 to $90.00 in a research note on Thursday, November 6th. TD Cowen upped their target price on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Finally, BMO Capital Markets decreased their price target on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research report on Tuesday, November 4th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.19.

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.