Mezzasalma Advisors LLC Makes New $1.04 Million Investment in Public Service Enterprise Group Incorporated $PEG

Mezzasalma Advisors LLC bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 12,452 shares of the utilities provider’s stock, valued at approximately $1,039,000.

Several other institutional investors have also modified their holdings of PEG. Twin Peaks Wealth Advisors LLC purchased a new position in Public Service Enterprise Group in the 2nd quarter valued at approximately $25,000. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group in the second quarter valued at $25,000. Keener Financial Planning LLC purchased a new position in shares of Public Service Enterprise Group in the second quarter valued at $27,000. GoalVest Advisory LLC increased 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 valued at $30,000 after buying an additional 225 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Activity

In related news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 26,134 shares in the company, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

PEG has been the topic of a number of research reports. UBS Group lowered their price objective on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research note on Wednesday, December 17th. Morgan Stanley lowered their price target on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. BTIG Research started coverage on Public Service Enterprise Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 price objective for the company. 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 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price target on Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating for the company in a research report on Friday, December 12th. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.96.

Public Service Enterprise Group Stock Down 0.4%

PEG stock opened at $80.40 on Friday. The company has a 50 day moving average price of $81.45 and a two-hundred day moving average price of $82.71. 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 stock has a market capitalization of $40.13 billion, a P/E ratio of 19.33, a PEG ratio of 2.45 and a beta of 0.59. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.11. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The business’s revenue was up 22.1% on a year-over-year basis. During the same quarter last 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. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend 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 dividend payout ratio is currently 60.58%.

About Public Service Enterprise Group

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.