Public Service Enterprise Group Incorporated $PEG Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,961,047 shares of the utilities provider’s stock after buying an additional 1,199,371 shares during the period. Vanguard Group Inc. owned 13.02% of Public Service Enterprise Group worth $5,468,421,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC lifted its stake in Public Service Enterprise Group by 22.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 73,542 shares of the utilities provider’s stock valued at $6,192,000 after acquiring an additional 13,540 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Public Service Enterprise Group by 2.5% during the second quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider’s stock worth $5,812,000 after purchasing an additional 1,652 shares during the last quarter. Intech Investment Management LLC lifted its position in Public Service Enterprise Group by 69.6% during the first quarter. Intech Investment Management LLC now owns 23,301 shares of the utilities provider’s stock valued at $1,918,000 after purchasing an additional 9,563 shares during the period. Chemistry Wealth Management LLC acquired a new position in Public Service Enterprise Group during the second quarter valued at $579,000. Finally, Integrity Alliance LLC. purchased a new stake in Public Service Enterprise Group in the first quarter valued at $775,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEG has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Public Service Enterprise Group in a research note on Thursday, November 13th. Wells Fargo & Company started coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price target on the stock. UBS Group upped 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 research report on Friday, July 25th. Jefferies Financial Group raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $89.00 to $90.00 in a research note on Thursday, November 6th. Finally, TD Cowen lifted their price target on Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.19.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $81.09 on Thursday. 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 stock’s fifty day moving average is $82.24 and its two-hundred day moving average is $82.45. The firm has a market capitalization of $40.48 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22.

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

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be issued a $0.63 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. Public Service Enterprise Group’s payout ratio is 60.58%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $82.33, for a total transaction of $405,063.60. Following the sale, the senior vice president directly owned 26,134 shares in the company, valued at $2,151,612.22. This represents a 15.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by insiders.

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.