Revolve Wealth Partners LLC Increases Stake in Public Service Enterprise Group Incorporated $PEG

Revolve Wealth Partners LLC boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 21.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,843 shares of the utilities provider’s stock after purchasing an additional 691 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Public Service Enterprise Group were worth $323,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PEG. Keener Financial Planning LLC purchased a new stake in Public Service Enterprise Group during the 2nd quarter valued at about $27,000. Headlands Technologies LLC purchased a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at about $32,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at about $33,000. Marshall & Sullivan Inc. WA purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at about $33,000. Finally, Costello Asset Management INC boosted its holdings in shares of Public Service Enterprise Group by 290.6% during the 2nd quarter. Costello Asset Management INC now owns 539 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 401 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of recent 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 target on the stock. BMO Capital Markets raised 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. UBS Group raised their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, Morgan Stanley lowered 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 research note on Thursday, September 25th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average price target of $90.95.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $81.71 on Tuesday. The firm’s 50 day moving average price is $83.00 and its 200-day moving average price is $82.19. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $40.78 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 2.80 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, topping 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 company had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the business earned $0.63 EPS. The firm’s 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 research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were paid 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 (DPR) is presently 63.64%.

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.