Envestnet Portfolio Solutions Inc. Purchases 369 Shares of Public Service Enterprise Group Incorporated $PEG

Envestnet Portfolio Solutions Inc. grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,779 shares of the utilities provider’s stock after purchasing an additional 369 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Public Service Enterprise Group were worth $1,328,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its position in shares of 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 valued at $3,922,000 after purchasing an additional 2,803 shares during the period. Sowell Financial Services LLC bought a new position in shares of Public Service Enterprise Group in the first quarter valued at approximately $298,000. Janney Montgomery Scott LLC raised its position in shares of Public Service Enterprise Group by 2.5% in the second quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider’s stock valued at $5,812,000 after purchasing an additional 1,652 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in shares of Public Service Enterprise Group by 22.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 73,542 shares of the utilities provider’s stock valued at $6,192,000 after purchasing an additional 13,540 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in shares of Public Service Enterprise Group by 12.7% in the first 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 during the period. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.5%

Shares of Public Service Enterprise Group stock opened at $84.77 on Friday. The firm has a market capitalization of $42.30 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 2.60 and a beta of 0.53. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The company’s fifty day moving average price is $82.74 and its two-hundred day moving average price is $82.22. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.07. The firm 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 business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS 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. Shareholders of record on Tuesday, September 9th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 9th. Public Service Enterprise Group’s payout ratio is 63.64%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PEG shares. TD Cowen started coverage on shares of Public Service Enterprise Group in a research report on Thursday. They set a “buy” rating and a $93.00 target price on the stock. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 6th. Barclays dropped their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 10th. Morgan Stanley dropped their target price on shares of 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. Finally, Evercore ISI started coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.14.

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.