Cerro Pacific Wealth Advisors LLC increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 3.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 12,678 shares of the utilities provider’s stock after acquiring an additional 427 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,067,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Keener Financial Planning LLC purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at approximately $27,000. Headlands Technologies LLC purchased a new position in shares of Public Service Enterprise Group during the 1st quarter valued at approximately $32,000. Marshall & Sullivan Inc. WA purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at approximately $33,000. Wealth Preservation Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the 1st quarter valued at approximately $33,000. Finally, Costello Asset Management INC raised its stake in Public Service Enterprise Group by 290.6% in the 2nd quarter. Costello Asset Management INC now owns 539 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 401 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.
Analysts Set New Price Targets
PEG has been the subject of several recent research reports. Morgan Stanley reduced their price objective on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. BMO Capital Markets increased their price objective on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a research note on Wednesday, August 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Wednesday. UBS Group increased their price objective 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. Finally, Evercore ISI started coverage on Public Service Enterprise Group in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $90.95.
Public Service Enterprise Group Stock Down 1.0%
Shares of 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 market capitalization of $40.21 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 2.80 and a beta of 0.53. The stock has a fifty day simple moving average of $83.17 and a two-hundred day simple moving average of $82.18. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the company earned $0.63 EPS. 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. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.
Public Service Enterprise Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were paid a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 63.64%.
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.
Featured Articles
- Five stocks we like better than Public Service Enterprise Group
- How Can Investors Benefit From After-Hours Trading
- Bassett Furniture: Buy Now, Sit Back, and Collect Dividends
- 3 Grocery Stocks That Can Help Take a Bite Out of Inflation
- AST SpaceMobile’s Big Win: Shares Soar on New Deal With Verizon
- Differences Between Momentum Investing and Long Term Investing
- Catch the Next Bitcoin Rally With These 3 ETFs
Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report).
Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.