Global Retirement Partners LLC Makes New $315,000 Investment in Public Service Enterprise Group Incorporated $PEG

Global Retirement Partners LLC purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,747 shares of the utilities provider’s stock, valued at approximately $315,000.

A number of other hedge funds also recently modified their holdings of PEG. Keener Financial Planning LLC acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $27,000. GoalVest Advisory LLC lifted its stake in Public Service Enterprise Group by 166.7% in the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after buying an additional 225 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Public Service Enterprise Group in the first quarter valued at approximately $32,000. Marshall & Sullivan Inc. WA bought a new stake in shares of Public Service Enterprise Group during the second quarter worth $33,000. Finally, Wealth Preservation Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth $33,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the company’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 $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BTIG Research assumed coverage on shares of Public Service Enterprise Group in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 target price for the company. Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $89.00 to $90.00 in a report on Thursday, November 6th. Wells Fargo & Company started coverage on Public Service Enterprise Group in a research report on Tuesday, October 28th. They issued an “equal weight” rating and a $88.00 target price on the stock. TD Cowen upped their price target on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Barclays raised their price target on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.19.

Public Service Enterprise Group Trading Up 0.3%

Shares of NYSE:PEG opened at $83.52 on Monday. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $94.99. 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 company has a market capitalization of $41.69 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55. The company has a 50-day simple moving average of $82.33 and a 200 day simple moving average of $82.66.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the prior year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $2.52 annualized dividend and a yield of 3.0%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 60.58%.

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.