Corient Private Wealth LLC Boosts Holdings in Public Service Enterprise Group Incorporated $PEG

Corient Private Wealth LLC boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 16.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 200,346 shares of the utilities provider’s stock after buying an additional 27,602 shares during the quarter. Corient Private Wealth LLC’s holdings in Public Service Enterprise Group were worth $16,865,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at $25,000. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group in the 2nd quarter worth $25,000. Keener Financial Planning LLC purchased a new position in Public Service Enterprise Group during the second quarter valued at $27,000. GoalVest Advisory LLC grew its holdings in Public Service Enterprise Group by 166.7% during the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 225 shares during the period. Finally, Marshall & Sullivan Inc. WA purchased a new stake in Public Service Enterprise Group in the second quarter worth about $33,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

PEG stock opened at $79.85 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93. The company’s fifty day moving average price is $81.78 and its 200-day moving average price is $82.71. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $91.25. The company has a market capitalization of $39.86 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 2.44 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.11. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations 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 last year, the company 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 anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders 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 payout ratio is 60.58%.

Insider Activity at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of the 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 completion of the transaction, the senior vice president directly owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. This represents a 15.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PEG shares. Jefferies Financial Group raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $89.00 to $90.00 in a research report on Thursday, November 6th. Wells Fargo & Company initiated coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price target on the stock. Morgan Stanley reduced their price objective on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Evercore ISI assumed coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price objective on the stock. Finally, TD Cowen upped their target price on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $90.96.

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.