McGlone Suttner Wealth Management Inc. Acquires 444 Shares of Public Service Enterprise Group Incorporated $PEG

McGlone Suttner Wealth Management Inc. raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 6,475 shares of the utilities provider’s stock after purchasing an additional 444 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in Public Service Enterprise Group were worth $545,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PEG. Robeco Institutional Asset Management B.V. increased its holdings in Public Service Enterprise Group by 6.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider’s stock valued at $3,922,000 after buying an additional 2,803 shares during the period. Sowell Financial Services LLC bought a new stake in Public Service Enterprise Group during the 1st quarter valued at $298,000. Exchange Traded Concepts LLC increased its holdings in shares of Public Service Enterprise Group by 12.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider’s stock valued at $327,000 after acquiring an additional 447 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Public Service Enterprise Group by 4.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider’s stock worth $7,417,000 after acquiring an additional 3,601 shares in the last quarter. Finally, Chemistry Wealth Management LLC purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth $579,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.5%

Shares of NYSE:PEG opened at $81.57 on Monday. The business has a 50 day moving average of $84.39 and a two-hundred day moving average of $82.12. 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 market capitalization of $40.71 billion, a PE ratio of 20.60, a PEG ratio of 2.84 and a beta of 0.50. 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 quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.70 by $0.07. The company had revenue of $2.81 billion for 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 revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the business earned $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

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

Analyst Upgrades and Downgrades

PEG has been the topic of a number of recent research reports. BMO Capital Markets raised their price objective on 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. Morgan Stanley lowered their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, June 18th. UBS Group lifted their price objective on shares of 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. Barclays decreased their target price 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. Finally, 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. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.55.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the transaction, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

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.