Callan Family Office LLC Purchases 8,005 Shares of Public Service Enterprise Group Incorporated $PEG

Callan Family Office LLC raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 119.2% during the second quarter, Holdings Channel reports. The fund owned 14,723 shares of the utilities provider’s stock after acquiring an additional 8,005 shares during the period. Callan Family Office LLC’s holdings in Public Service Enterprise Group were worth $1,239,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEG. Massachusetts Wealth Management grew its holdings in Public Service Enterprise Group by 2.5% during the 2nd quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock valued at $431,000 after buying an additional 125 shares in the last quarter. FourThought Financial Partners LLC grew its holdings in 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 buying an additional 127 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in 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 buying an additional 130 shares in the last quarter. Summit Financial LLC grew its holdings in 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 buying an additional 133 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in 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 buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $80.57 on Monday. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22. 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 firm has a market capitalization of $40.21 billion, a P/E ratio of 20.35, a P/E/G ratio of 2.80 and a beta of 0.53. The stock has a 50 day moving average price of $83.17 and a 200 day moving average price of $82.19.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the company earned $0.63 EPS. Public Service Enterprise Group’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. As a group, sell-side 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 63.64%.

Analyst Upgrades and Downgrades

PEG has been the subject of several research analyst reports. BMO Capital Markets raised their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a report on Wednesday, August 6th. UBS Group lifted their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Barclays dropped their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, July 10th. Morgan Stanley dropped their target price 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, Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $90.95.

Public Service Enterprise Group Company 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.