Sage Mountain Advisors LLC Invests $308,000 in Public Service Enterprise Group Incorporated $PEG

Sage Mountain Advisors LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,654 shares of the utilities provider’s stock, valued at approximately $308,000.

Other large investors also recently modified their holdings of the company. Keener Financial Planning LLC acquired a new position in shares of Public Service Enterprise Group during the second quarter worth approximately $27,000. Headlands Technologies LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter worth approximately $32,000. Wealth Preservation Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter worth approximately $33,000. Marshall & Sullivan Inc. WA acquired a new position in shares of Public Service Enterprise Group during the second quarter worth approximately $33,000. Finally, Costello Asset Management INC lifted its position in shares of Public Service Enterprise Group by 290.6% during the second quarter. Costello Asset Management INC now owns 539 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 401 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 0.3%

Shares of NYSE PEG opened at $83.02 on Monday. The company’s fifty day moving average is $82.41 and its 200-day moving average is $82.41. The stock has a market cap of $41.43 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 2.55 and a beta of 0.53. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30.

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 for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. The company had revenue of $2.81 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 15.8% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

PEG has been the topic of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Saturday. Barclays increased their price objective on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. UBS Group increased their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 25th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Finally, BTIG Research assumed 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. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $91.79.

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.