Northstar Group Inc. Sells 460 Shares of Public Service Enterprise Group Incorporated $PEG

Northstar Group Inc. trimmed its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,612 shares of the utilities provider’s stock after selling 460 shares during the quarter. Northstar Group Inc.’s holdings in Public Service Enterprise Group were worth $472,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. FourThought Financial Partners LLC increased its position in shares of Public Service Enterprise Group by 2.8% during the 1st 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. Oregon Public Employees Retirement Fund increased its position in shares of Public Service Enterprise Group by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider’s stock valued at $3,523,000 after purchasing an additional 130 shares during the last quarter. Summit Financial LLC increased its position in shares of Public Service Enterprise Group by 2.2% during the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock valued at $507,000 after purchasing an additional 133 shares during the last quarter. UMB Bank n.a. increased its position in shares of Public Service Enterprise Group by 1.1% during the 2nd quarter. UMB Bank n.a. now owns 12,363 shares of the utilities provider’s stock valued at $1,041,000 after purchasing an additional 139 shares during the last quarter. Finally, PFS Partners LLC increased its position in shares of Public Service Enterprise Group by 23.6% during the 2nd quarter. PFS Partners LLC now owns 748 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 143 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. UBS Group upped their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Barclays reduced their price target 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 report on Thursday, July 10th. Morgan Stanley reduced their price target on shares of 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. Finally, BMO Capital Markets increased their target price on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $91.85.

Public Service Enterprise Group Trading Down 1.1%

Public Service Enterprise Group stock opened at $82.51 on Thursday. The firm has a 50 day moving average of $84.14 and a 200 day moving average of $82.24. The firm has a market capitalization of $41.18 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 2.90 and a beta of 0.53. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.07. The company had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given 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 (DPR) is presently 63.64%.

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.