Public Service Enterprise Group Incorporated $PEG Shares Purchased by PFG Investments LLC

PFG Investments LLC increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,685 shares of the utilities provider’s stock after purchasing an additional 308 shares during the period. PFG Investments LLC’s holdings in Public Service Enterprise Group were worth $2,415,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. LBP AM SA grew its stake in shares of Public Service Enterprise Group by 23.9% during the second quarter. LBP AM SA now owns 3,868 shares of the utilities provider’s stock worth $326,000 after purchasing an additional 746 shares in the last quarter. Pennsylvania Capital Management Inc. ADV acquired a new position in shares of Public Service Enterprise Group during the second quarter worth $201,000. Capital Investment Advisors LLC grew its stake in shares of Public Service Enterprise Group by 103.1% during the second quarter. Capital Investment Advisors LLC now owns 5,286 shares of the utilities provider’s stock worth $445,000 after purchasing an additional 2,683 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Public Service Enterprise Group by 2.5% during the second quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider’s stock worth $5,812,000 after purchasing an additional 1,652 shares in the last quarter. Finally, Invesco LLC grew its stake in shares of Public Service Enterprise Group by 29.5% during the second quarter. Invesco LLC now owns 6,980 shares of the utilities provider’s stock worth $588,000 after purchasing an additional 1,588 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. UBS Group boosted their target price on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Morgan Stanley decreased their price objective on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. 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. Barclays decreased their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, July 10th. Finally, BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a research note on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.85.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $82.51 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 market capitalization of $41.18 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 2.90 and a beta of 0.53. The firm has a 50-day simple moving average of $84.14 and a 200-day simple moving average of $82.24. 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 announced its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid a dividend of $0.63 per share. The ex-dividend date was Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio is 63.64%.

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.