Sovereign Financial Group Inc. lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 4.3% in the second quarter, HoldingsChannel reports. The firm owned 10,040 shares of the utilities provider’s stock after selling 456 shares during the period. Sovereign Financial Group Inc.’s holdings in Public Service Enterprise Group were worth $845,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. Massachusetts Wealth Management increased its position in shares of Public Service Enterprise Group by 2.5% during the 2nd quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock worth $431,000 after purchasing an additional 125 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in Public Service Enterprise Group by 0.8% during the 2nd quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider’s stock worth $1,315,000 after acquiring an additional 126 shares during the last quarter. FourThought Financial Partners LLC grew its holdings in Public Service Enterprise Group by 2.8% during the 1st quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock worth $378,000 after acquiring an additional 127 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Public Service Enterprise Group by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider’s stock worth $3,523,000 after acquiring an additional 130 shares during the last quarter. Finally, Summit Financial LLC grew its holdings in Public Service Enterprise Group by 2.2% during the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock worth $507,000 after acquiring an additional 133 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.
Wall Street Analysts Forecast Growth
PEG has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Evercore ISI initiated coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price objective on the stock. UBS Group increased their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Morgan Stanley decreased their price objective on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Finally, Barclays reduced their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 10th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $90.95.
Public Service Enterprise Group Stock Down 1.0%
Shares of NYSE PEG opened at $80.57 on Friday. The firm’s 50-day moving average is $83.17 and its 200-day moving average is $82.18. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $95.22. The firm 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 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 (NYSE:PEG – Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the firm earned $0.63 EPS. Public Service Enterprise Group’s quarterly revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.
Public Service Enterprise Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $2.52 annualized dividend and a yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 63.64%.
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.
See Also
- Five stocks we like better than Public Service Enterprise Group
- Want to Profit on the Downtrend? Downtrends, Explained.
- Bassett Furniture: Buy Now, Sit Back, and Collect Dividends
- About the Markup Calculator
- AST SpaceMobile’s Big Win: Shares Soar on New Deal With Verizon
- Using the MarketBeat Dividend Yield Calculator
- 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.