Valeo Financial Advisors LLC Buys Shares of 2,537 Public Service Enterprise Group Incorporated $PEG

Valeo Financial Advisors LLC acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, Holdings Channel reports. The firm acquired 2,537 shares of the utilities provider’s stock, valued at approximately $214,000.

Several other hedge funds also recently modified their holdings of PEG. Headlands Technologies LLC acquired a new position in Public Service Enterprise Group during the 1st quarter valued at $32,000. Marshall & Sullivan Inc. WA bought a new position in shares of Public Service Enterprise Group during the 2nd quarter worth about $33,000. Wealth Preservation Advisors LLC bought a new position in shares of Public Service Enterprise Group during the 1st quarter worth about $33,000. Zions Bancorporation National Association UT acquired a new stake in Public Service Enterprise Group during the first quarter worth about $50,000. Finally, Sound Income Strategies LLC grew its position in Public Service Enterprise Group by 105.9% during the first quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider’s stock worth $58,000 after buying an additional 361 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Down 1.0%

Shares of NYSE:PEG opened at $80.57 on Friday. 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 debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The company’s fifty day moving average is $83.17 and its 200-day moving average is $82.18. The company has a market capitalization of $40.21 billion, a PE ratio of 20.35, a P/E/G ratio of 2.83 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.07. The firm 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 firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the firm posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given a dividend of $0.63 per share. The ex-dividend date was Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio is 63.64%.

Analyst Ratings Changes

A number of analysts have commented on PEG shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Wednesday. UBS Group upped their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Evercore ISI started coverage on Public Service Enterprise Group in a research note on Tuesday. They issued an “in-line” rating and a $83.00 target price for the company. BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a report on Wednesday, August 6th. Finally, 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. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.95.

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.