Forvis Mazars Wealth Advisors LLC Decreases Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Forvis Mazars Wealth Advisors LLC trimmed its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,919 shares of the utilities provider’s stock after selling 663 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $3,865,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Keener Financial Planning LLC purchased a new position in Public Service Enterprise Group in the 2nd quarter worth approximately $27,000. Headlands Technologies LLC purchased a new position in Public Service Enterprise Group in the 1st quarter worth approximately $32,000. Wealth Preservation Advisors LLC purchased a new position in Public Service Enterprise Group in the 1st quarter worth approximately $33,000. Marshall & Sullivan Inc. WA purchased a new position in Public Service Enterprise Group in the 2nd quarter worth approximately $33,000. Finally, Costello Asset Management INC lifted its stake in Public Service Enterprise Group by 290.6% in the 2nd quarter. Costello Asset Management INC now owns 539 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 401 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Up 0.5%

Public Service Enterprise Group stock opened at $84.77 on Friday. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The firm has a 50 day moving average price of $82.74 and a 200 day moving average price of $82.22. The company has a market capitalization of $42.30 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 2.60 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The firm had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. 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 business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 63.64%.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of research reports. Barclays decreased their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 10th. TD Cowen assumed coverage on Public Service Enterprise Group in a report on Thursday. They issued a “buy” rating and a $93.00 price objective on the stock. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Morgan Stanley reduced their target price on 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. Finally, BMO Capital Markets upped their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.14.

About Public Service Enterprise Group

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.