Leavell Investment Management Inc. Sells 1,574 Shares of Public Service Enterprise Group Incorporated $PEG

Leavell Investment Management Inc. lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 23.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,277 shares of the utilities provider’s stock after selling 1,574 shares during the quarter. Leavell Investment Management Inc.’s holdings in Public Service Enterprise Group were worth $444,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PEG. Vanguard Group Inc. lifted its holdings in shares of Public Service Enterprise Group by 4.9% in the first quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock worth $5,247,586,000 after acquiring an additional 2,986,646 shares during the last quarter. Nuveen LLC bought a new position in Public Service Enterprise Group in the 1st quarter valued at approximately $95,076,000. Cbre Investment Management Listed Real Assets LLC bought a new position in Public Service Enterprise Group in the 1st quarter valued at approximately $68,317,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Public Service Enterprise Group by 20.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider’s stock valued at $395,354,000 after buying an additional 806,782 shares during the last quarter. Finally, Reaves W H & Co. Inc. raised its holdings in Public Service Enterprise Group by 58.4% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,312,292 shares of the utilities provider’s stock valued at $108,002,000 after buying an additional 483,682 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PEG. 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. Morgan Stanley dropped their price objective on shares of 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. BMO Capital Markets dropped their price objective on shares of Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating for the company in a report on Monday, October 20th. TD Cowen assumed coverage on shares of Public Service Enterprise Group in a report on Thursday, October 16th. They issued a “buy” rating and a $93.00 price objective for the company. Finally, Barclays increased their target price on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.79.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $83.54 on Tuesday. The company has a market cap of $41.69 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 2.55 and a beta of 0.53. 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 quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The firm has a 50 day moving average of $82.39 and a 200-day moving average of $82.42.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.70 by $0.07. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter last 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, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

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.