Public Service Enterprise Group Incorporated $PEG Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,526,776 shares of the utilities provider’s stock after purchasing an additional 110,087 shares during the period. Geode Capital Management LLC’s holdings in Public Service Enterprise Group were worth $1,049,973,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of PEG. Wealth Quarterback LLC raised its holdings in shares of Public Service Enterprise Group by 1.9% in the second quarter. Wealth Quarterback LLC now owns 10,727 shares of the utilities provider’s stock worth $903,000 after buying an additional 204 shares during the last quarter. National Pension Service grew its holdings in shares of Public Service Enterprise Group by 0.9% during the second quarter. National Pension Service now owns 648,465 shares of the utilities provider’s stock valued at $54,588,000 after buying an additional 5,804 shares during the last quarter. Ironwood Investment Counsel LLC increased its position in shares of Public Service Enterprise Group by 5.2% in the 2nd quarter. Ironwood Investment Counsel LLC now owns 4,901 shares of the utilities provider’s stock valued at $413,000 after acquiring an additional 244 shares during the period. Vise Technologies Inc. purchased a new position in Public Service Enterprise Group in the 2nd quarter worth $653,000. Finally, Allworth Financial LP raised its stake in Public Service Enterprise Group by 24.9% in the 2nd quarter. Allworth Financial LP now owns 14,599 shares of the utilities provider’s stock worth $1,229,000 after acquiring an additional 2,906 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PEG shares. Wells Fargo & Company initiated coverage on Public Service Enterprise Group in a research note on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price target on the stock. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Evercore ISI began coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Wednesday, October 8th. Finally, BTIG Research started coverage on shares of Public Service Enterprise Group in a report on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price objective on the stock. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $91.19.

Insiders Place Their Bets

In related news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $82.33, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $82.35 on Friday. The company has a market capitalization of $41.11 billion, a PE ratio of 20.80, 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 quick ratio of 0.76 and a current ratio of 1.00. The company’s fifty day moving average price is $82.13 and its 200 day moving average price is $82.38. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the company earned $0.90 earnings per share. 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, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

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.