Public Service Enterprise Group Incorporated $PEG Position Boosted by Candriam S.C.A.

Candriam S.C.A. increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,284 shares of the utilities provider’s stock after purchasing an additional 1,990 shares during the quarter. Candriam S.C.A.’s holdings in Public Service Enterprise Group were worth $5,496,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PEG. TFB Advisors LLC grew its holdings in shares of Public Service Enterprise Group by 4.8% during the second quarter. TFB Advisors LLC now owns 2,611 shares of the utilities provider’s stock valued at $220,000 after buying an additional 119 shares in the last quarter. Massachusetts Wealth Management boosted its position in 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 acquiring an additional 125 shares during the period. Apollon Wealth Management LLC grew its stake 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 valued at $1,315,000 after acquiring an additional 126 shares in the last quarter. FourThought Financial Partners LLC increased its holdings in shares of Public Service Enterprise Group by 2.8% in the 1st quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock valued at $378,000 after purchasing an additional 127 shares during the period. Finally, Summit Financial LLC lifted its position in shares of Public Service Enterprise Group by 2.2% in the first quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock worth $507,000 after purchasing an additional 133 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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 research report on Saturday, September 6th. Wells Fargo & Company started coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 target price for the company. BMO Capital Markets dropped their price target on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 4th. Barclays increased their price objective on Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Finally, Morgan Stanley lowered their target price on 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. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $91.19.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $82.81 on Friday. The business’s 50-day simple moving average is $82.16 and its 200-day simple moving average is $82.40. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. The firm has a market cap of $41.34 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 2.46 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The company’s revenue was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the transaction, the senior vice president directly owned 26,134 shares in the company, valued at approximately $2,151,612.22. This trade represents a 15.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

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.