Simon Quick Advisors LLC Acquires 1,477 Shares of Public Service Enterprise Group Incorporated $PEG

Simon Quick Advisors LLC raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 52.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,286 shares of the utilities provider’s stock after purchasing an additional 1,477 shares during the quarter. Simon Quick Advisors LLC’s holdings in Public Service Enterprise Group were worth $361,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PEG. Keener Financial Planning LLC bought a new stake in Public Service Enterprise Group during the 2nd quarter valued at about $27,000. GoalVest Advisory LLC increased its stake in Public Service Enterprise Group by 166.7% during the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 225 shares in the last quarter. Headlands Technologies LLC bought a new stake in Public Service Enterprise Group during the 1st quarter valued at about $32,000. Wealth Preservation Advisors LLC bought a new stake in Public Service Enterprise Group during the 1st quarter valued at about $33,000. Finally, Marshall & Sullivan Inc. WA bought a new stake in Public Service Enterprise Group during the 2nd quarter valued at about $33,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $80.76 on Monday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The company has a market capitalization of $40.30 billion, a P/E ratio of 20.39, a P/E/G ratio of 2.46 and a beta of 0.53. The firm’s 50 day simple moving average is $82.12 and its two-hundred day simple moving average is $82.36.

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 for the quarter, beating the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PEG. TD Cowen began coverage on shares of Public Service Enterprise Group in a report on Thursday, October 16th. They set a “buy” rating and a $93.00 price target on the stock. Barclays raised their price target 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 raised their price target 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. Evercore ISI began coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price target on the stock. Finally, Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $91.21.

About Public Service Enterprise Group

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.