Resona Asset Management Co. Ltd. Has $14.94 Million Stock Position in Public Service Enterprise Group Incorporated $PEG

Resona Asset Management Co. Ltd. increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.4% in the 2nd quarter, Holdings Channel reports. The fund owned 177,681 shares of the utilities provider’s stock after purchasing an additional 10,699 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Public Service Enterprise Group were worth $14,941,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Keener Financial Planning LLC purchased a new stake in shares of Public Service Enterprise Group in the second quarter worth approximately $27,000. GoalVest Advisory LLC grew its position in Public Service Enterprise Group by 166.7% during the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 225 shares in the last quarter. Headlands Technologies LLC acquired a new position in Public Service Enterprise Group in the 1st quarter valued at approximately $32,000. Marshall & Sullivan Inc. WA purchased a new stake in Public Service Enterprise Group in the 2nd quarter worth approximately $33,000. Finally, Wealth Preservation Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the topic of a number of research reports. Jefferies Financial Group raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $89.00 to $90.00 in a research note on Thursday. Wells Fargo & Company assumed coverage on Public Service Enterprise Group in a research note on Tuesday, October 28th. They issued an “equal weight” rating and a $88.00 target price on the stock. UBS Group upped their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Morgan Stanley reduced their price target on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Finally, Evercore ISI assumed 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 equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $91.19.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $83.26 on Friday. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The stock’s 50-day moving average is $82.02 and its two-hundred day moving average is $82.34. The firm has a market cap of $41.55 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, beating 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 business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the prior year, the firm posted $0.90 EPS. The firm’s revenue for the quarter 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, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

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.