Prime Capital Investment Advisors LLC Reduces Stake in Public Service Enterprise Group Incorporated $PEG

Prime Capital Investment Advisors LLC trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 7,089 shares of the utilities provider’s stock after selling 972 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Public Service Enterprise Group were worth $597,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Public Service Enterprise Group by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock valued at $5,247,586,000 after buying an additional 2,986,646 shares in the last quarter. Nuveen LLC purchased a new position in shares of Public Service Enterprise Group in the first quarter worth $95,076,000. Cbre Investment Management Listed Real Assets LLC purchased a new position in shares of Public Service Enterprise Group in the first quarter worth $68,317,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Public Service Enterprise Group by 20.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider’s stock worth $395,354,000 after buying an additional 806,782 shares during the period. Finally, Reaves W H & Co. Inc. increased its position in shares of Public Service Enterprise Group by 58.4% in the first quarter. Reaves W H & Co. Inc. now owns 1,312,292 shares of the utilities provider’s stock valued at $108,002,000 after acquiring an additional 483,682 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $80.57 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $40.21 billion, a P/E ratio of 20.35, a PEG ratio of 2.83 and a beta of 0.53. The stock’s 50 day moving average is $83.17 and its 200 day moving average is $82.18. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly 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 return on equity of 12.08% and a net margin of 17.78%.The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The firm’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 predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group boosted their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Morgan Stanley reduced their price target on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Wednesday. Finally, Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average target price of $90.95.

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.