Flow Traders U.S. LLC Makes New Investment in Public Service Enterprise Group Incorporated $PEG

Flow Traders U.S. LLC acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,907 shares of the utilities provider’s stock, valued at approximately $581,000.

Several other institutional investors have also recently made changes to their positions in PEG. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at $25,000. Keener Financial Planning LLC purchased a new position in Public Service Enterprise Group in the second quarter valued at $27,000. GoalVest Advisory LLC raised its position in shares of Public Service Enterprise Group by 166.7% in the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 225 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Public Service Enterprise Group during the 1st quarter worth about $32,000. Finally, Wealth Preservation Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the 1st quarter worth about $33,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $78.69 on Thursday. The firm has a 50-day simple moving average of $81.97 and a 200-day simple moving average of $82.70. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $39.28 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 2.42 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. Public Service Enterprise Group’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared 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. This represents a $2.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 60.58%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PEG. Wells Fargo & Company assumed coverage on Public Service Enterprise Group in a research note on Tuesday, October 28th. They issued an “equal weight” rating and a $88.00 price target for the company. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday. BMO Capital Markets decreased their target price on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 4th. Finally, Evercore ISI initiated coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $91.19.

Insider Buying and Selling

In related news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the transaction, the senior vice president owned 26,134 shares in the company, valued at approximately $2,151,612.22. This trade represents a 15.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

About Public Service Enterprise Group

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.