Jacobi Capital Management LLC Increases Position in Public Service Enterprise Group Incorporated $PEG

Jacobi Capital Management LLC lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,187 shares of the utilities provider’s stock after acquiring an additional 977 shares during the quarter. Jacobi Capital Management LLC’s holdings in Public Service Enterprise Group were worth $1,744,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its position in shares of Public Service Enterprise Group by 6.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider’s stock worth $3,922,000 after acquiring an additional 2,803 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Public Service Enterprise Group during the first quarter worth about $298,000. Exchange Traded Concepts LLC increased its position in shares of Public Service Enterprise Group by 12.7% during the first quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider’s stock worth $327,000 after acquiring an additional 447 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Public Service Enterprise Group by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider’s stock worth $7,417,000 after acquiring an additional 3,601 shares during the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Public Service Enterprise Group during the first quarter worth about $329,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $82.14 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The business has a 50 day moving average of $84.43 and a two-hundred day moving average of $82.10. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. The company has a market cap of $40.99 billion, a P/E ratio of 20.74, a PEG ratio of 2.84 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the firm posted $0.63 earnings per share. Public Service Enterprise Group’s quarterly revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group’s payout ratio is presently 63.64%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the transaction, the chief executive officer directly owned 218,328 shares in the company, valued at $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

PEG has been the topic of a number of analyst reports. UBS Group lifted their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 6th. Barclays decreased their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, July 10th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Finally, Morgan Stanley decreased their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, June 18th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.95.

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.