Twin Tree Management LP Acquires 4,462 Shares of Public Service Enterprise Group Incorporated $PEG

Twin Tree Management LP grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 123,713 shares of the utilities provider’s stock after acquiring an additional 4,462 shares during the period. Twin Tree Management LP’s holdings in Public Service Enterprise Group were worth $10,414,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PEG. Robeco Institutional Asset Management B.V. lifted its stake in Public Service Enterprise Group by 6.2% in the first quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider’s stock worth $3,922,000 after acquiring an additional 2,803 shares during the period. Sowell Financial Services LLC bought a new position in Public Service Enterprise Group in the 1st quarter worth $298,000. Janney Montgomery Scott LLC lifted its position in shares of Public Service Enterprise Group by 2.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider’s stock worth $5,812,000 after purchasing an additional 1,652 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Public Service Enterprise Group by 12.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider’s stock valued at $327,000 after purchasing an additional 447 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Public Service Enterprise Group by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider’s stock valued at $7,417,000 after purchasing an additional 3,601 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of research reports. UBS Group increased their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Evercore ISI assumed coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 target price for the company. Morgan Stanley dropped their price target on 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 increased their price objective on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a report on Wednesday, August 6th. Finally, Barclays lowered their price objective on 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. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus price target of $90.95.

Public Service Enterprise Group Trading Up 2.7%

Public Service Enterprise Group stock opened at $84.66 on Thursday. 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 $42.25 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 2.53 and a beta of 0.53. The business’s fifty day simple moving average is $82.86 and its two-hundred day simple moving average is $82.21. 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 posted its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.07. The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.Public Service Enterprise Group’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, equities 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 announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 63.64%.

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.