2,579 Shares in Public Service Enterprise Group Incorporated $PEG Bought by Versor Investments LP

Versor Investments LP bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,579 shares of the utilities provider’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PEG. Envestnet Asset Management Inc. increased its holdings in shares of Public Service Enterprise Group by 2.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 992,812 shares of the utilities provider’s stock worth $81,708,000 after acquiring an additional 27,472 shares during the period. DekaBank Deutsche Girozentrale grew its position in Public Service Enterprise Group by 1.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 114,989 shares of the utilities provider’s stock worth $9,254,000 after purchasing an additional 1,960 shares during the last quarter. Greenleaf Trust grew its position in Public Service Enterprise Group by 6.4% in the 1st quarter. Greenleaf Trust now owns 11,847 shares of the utilities provider’s stock worth $975,000 after purchasing an additional 708 shares during the last quarter. Leavell Investment Management Inc. increased its stake in shares of Public Service Enterprise Group by 10.6% in the first quarter. Leavell Investment Management Inc. now owns 6,851 shares of the utilities provider’s stock valued at $564,000 after purchasing an additional 654 shares during the period. Finally, Stonebrook Private Inc. raised its holdings in shares of Public Service Enterprise Group by 1.2% during the first quarter. Stonebrook Private Inc. now owns 15,515 shares of the utilities provider’s stock valued at $1,277,000 after buying an additional 178 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Evercore ISI initiated coverage on Public Service Enterprise Group in a report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price objective for the company. Morgan Stanley reduced their price target on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. UBS Group increased their price target on 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. Barclays lifted 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 research note on Tuesday, October 21st. Finally, BMO Capital Markets reduced their price objective on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a report on Tuesday. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $91.19.

Public Service Enterprise Group Stock Up 3.1%

PEG opened at $82.35 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The company has a market capitalization of $41.10 billion, a PE ratio of 20.80, a P/E/G ratio of 2.46 and a beta of 0.55. The stock’s fifty day moving average is $82.00 and its 200-day moving average is $82.32. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period in the previous year, the company earned $0.90 earnings per share. Public Service Enterprise Group’s revenue was up 22.1% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

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.