Atlantic Union Bankshares Corp Makes New $250,000 Investment in Public Service Enterprise Group Incorporated $PEG

Atlantic Union Bankshares Corp purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,966 shares of the utilities provider’s stock, valued at approximately $250,000.

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

Public Service Enterprise Group Stock Up 1.0%

Shares of Public Service Enterprise Group stock opened at $83.26 on Monday. 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 $41.56 billion, a PE ratio of 21.02, a P/E/G ratio of 2.46 and a beta of 0.55. 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 business has a 50-day moving average of $82.02 and a 200-day moving average of $82.34.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the prior year, the business posted $0.90 earnings per share. Public Service Enterprise Group’s revenue for the quarter was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PEG has been the subject of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. BTIG Research began coverage on shares of Public Service Enterprise Group in a report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price on the stock. Jefferies Financial Group raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $89.00 to $90.00 in a research report on Thursday. Finally, Evercore ISI initiated coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price objective on the stock. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.19.

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.