Public Service Enterprise Group Incorporated $PEG Shares Bought by AE Wealth Management LLC

AE Wealth Management LLC raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,860 shares of the utilities provider’s stock after purchasing an additional 9,043 shares during the quarter. AE Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $14,344,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Public Service Enterprise Group during the second quarter valued at $564,238,000. Bank of America Corp DE grew its stake in Public Service Enterprise Group by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock valued at $1,476,230,000 after purchasing an additional 3,469,886 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Public Service Enterprise Group by 27.8% in the second quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider’s stock valued at $544,973,000 after purchasing an additional 1,408,707 shares during the period. Vanguard Group Inc. increased its holdings in shares of Public Service Enterprise Group by 1.9% in the second quarter. Vanguard Group Inc. now owns 64,961,047 shares of the utilities provider’s stock valued at $5,468,421,000 after purchasing an additional 1,199,371 shares during the period. Finally, Railway Pension Investments Ltd raised its stake in shares of Public Service Enterprise Group by 97.5% in the third quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock worth $158,390,000 after purchasing an additional 937,100 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.3%

PEG opened at $81.72 on Friday. The company has a fifty day moving average of $80.12 and a two-hundred day moving average of $82.27. The stock has a market capitalization of $40.79 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 2.65 and a beta of 0.60. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $91.25. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results 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. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period in the prior year, the company posted $0.90 EPS. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 60.58%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Evercore ISI started coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 target price on the stock. Barclays decreased their price objective on shares of Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating for the company in a research note on Thursday, January 22nd. UBS Group cut 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. Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. Finally, LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price target on the stock in a report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.96.

Insider Activity at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group 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 sale, the senior vice president owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. This trade represents a 15.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Profile

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.