Public Service Enterprise Group Incorporated $PEG Holdings Boosted by River Wealth Advisors LLC

River Wealth Advisors LLC grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 354.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,725 shares of the utilities provider’s stock after purchasing an additional 14,601 shares during the quarter. River Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,576,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PEG. Blueshift Asset Management LLC raised its stake in Public Service Enterprise Group by 149.8% during the 2nd quarter. Blueshift Asset Management LLC now owns 9,052 shares of the utilities provider’s stock valued at $762,000 after acquiring an additional 5,429 shares in the last quarter. Shelton Capital Management boosted its holdings in shares of Public Service Enterprise Group by 2,176.6% in the second quarter. Shelton Capital Management now owns 64,108 shares of the utilities provider’s stock worth $5,397,000 after buying an additional 61,292 shares during the period. BLI Banque de Luxembourg Investments purchased a new position in shares of Public Service Enterprise Group in the second quarter worth approximately $4,450,000. Railway Pension Investments Ltd raised its holdings in shares of Public Service Enterprise Group by 10.8% during the second quarter. Railway Pension Investments Ltd now owns 960,700 shares of the utilities provider’s stock valued at $80,872,000 after acquiring an additional 93,400 shares during the period. Finally, Lido Advisors LLC lifted its position in shares of Public Service Enterprise Group by 141.1% in the 2nd quarter. Lido Advisors LLC now owns 21,737 shares of the utilities provider’s stock valued at $1,830,000 after acquiring an additional 12,721 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 transaction, the senior vice president 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 the SEC website. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $80.71 on Wednesday. The business’s 50-day simple moving average is $82.30 and its 200-day simple moving average is $82.69. 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 Incorporated has a 52 week low of $74.67 and a 52 week high of $93.36. The firm has a market cap of $40.29 billion, a price-to-earnings ratio of 20.38, a P/E/G ratio of 2.46 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last announced its 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 during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. 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 expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date is Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is presently 60.58%.

Analyst Ratings Changes

Several analysts have issued reports on PEG shares. BMO Capital Markets cut their target price on shares of 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. Barclays upped their price target on Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Wells Fargo & Company started coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 28th. They issued an “equal weight” rating and a $88.00 price target for the company. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Finally, Evercore ISI began coverage on Public Service Enterprise Group in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.19.

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.