Johnson Investment Counsel Inc. Sells 234 Shares of Public Service Enterprise Group Incorporated $PEG

Johnson Investment Counsel Inc. lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 10,369 shares of the utilities provider’s stock after selling 234 shares during the period. Johnson Investment Counsel Inc.’s holdings in Public Service Enterprise Group were worth $873,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEG. GAMMA Investing LLC grew its holdings in Public Service Enterprise Group by 4.1% during the first quarter. GAMMA Investing LLC now owns 7,131 shares of the utilities provider’s stock worth $587,000 after purchasing an additional 279 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Public Service Enterprise Group by 15.8% during the first quarter. SG Americas Securities LLC now owns 11,848 shares of the utilities provider’s stock worth $975,000 after acquiring an additional 1,618 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings 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 period. Sound Income Strategies LLC boosted its holdings in shares of Public Service Enterprise Group by 105.9% during the first quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 361 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings 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 period. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $82.42 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $41.14 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 2.51 and a beta of 0.53. The firm’s fifty day simple moving average is $82.88 and its two-hundred day simple moving average is $82.19. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. The company had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were paid a $0.63 dividend. The ex-dividend date was Tuesday, September 9th. This represents a $2.52 annualized dividend and a yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 63.64%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PEG. Evercore ISI began coverage on 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. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. UBS Group lifted their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Morgan Stanley dropped their price target on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.