Public Service Enterprise Group Incorporated $PEG Shares Bought by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 29.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 5,995 shares of the utilities provider’s stock after acquiring an additional 1,369 shares during the period. ST Germain D J Co. Inc.’s holdings in Public Service Enterprise Group were worth $505,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. FORM Wealth Advisors LLC raised its position in Public Service Enterprise Group by 4.8% during the second quarter. FORM Wealth Advisors LLC now owns 3,590 shares of the utilities provider’s stock worth $302,000 after acquiring an additional 163 shares during the period. CX Institutional raised its position in Public Service Enterprise Group by 18.7% during the second quarter. CX Institutional now owns 3,297 shares of the utilities provider’s stock worth $278,000 after acquiring an additional 520 shares during the period. Perigon Wealth Management LLC raised its position in Public Service Enterprise Group by 2.9% during the second quarter. Perigon Wealth Management LLC now owns 7,683 shares of the utilities provider’s stock worth $647,000 after acquiring an additional 218 shares during the period. Palumbo Wealth Management LLC raised its position in shares of Public Service Enterprise Group by 3.3% in the second quarter. Palumbo Wealth Management LLC now owns 5,675 shares of the utilities provider’s stock valued at $478,000 after buying an additional 179 shares during the last quarter. Finally, Harrell Investment Partners LLC raised its position in shares of Public Service Enterprise Group by 19.4% in the second quarter. Harrell Investment Partners LLC now owns 36,671 shares of the utilities provider’s stock valued at $3,087,000 after buying an additional 5,961 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 1.8%

Shares of PEG opened at $82.30 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22. The firm has a 50-day moving average price of $84.30 and a 200 day moving average price of $82.18. The firm has a market capitalization of $41.07 billion, a P/E ratio of 20.78, a P/E/G ratio of 2.81 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Public Service Enterprise Group’s quarterly revenue 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. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 63.64%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Barclays reduced their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, July 10th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. BMO Capital Markets increased their target price on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, August 6th. Morgan Stanley reduced their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, UBS Group increased their target price on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.85.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the transaction, the chief executive officer owned 218,328 shares of the company’s stock, valued at $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by company insiders.

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.