ProShare Advisors LLC Acquires 10,246 Shares of Public Service Enterprise Group Incorporated $PEG

ProShare Advisors LLC lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 13.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 88,658 shares of the utilities provider’s stock after acquiring an additional 10,246 shares during the period. ProShare Advisors LLC’s holdings in Public Service Enterprise Group were worth $7,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Public Service Enterprise Group by 4.9% in the first quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock worth $5,247,586,000 after buying an additional 2,986,646 shares in the last quarter. Nuveen LLC bought a new position in shares of Public Service Enterprise Group during the 1st quarter valued at approximately $95,076,000. Cbre Investment Management Listed Real Assets LLC purchased a new stake in Public Service Enterprise Group in the 1st quarter worth approximately $68,317,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Public Service Enterprise Group by 20.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider’s stock worth $395,354,000 after acquiring an additional 806,782 shares in the last quarter. Finally, Reaves W H & Co. Inc. raised its stake in Public Service Enterprise Group by 58.4% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,312,292 shares of the utilities provider’s stock worth $108,002,000 after acquiring an additional 483,682 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the sale, the senior vice president directly owned 26,134 shares of the company’s stock, valued at $2,151,612.22. This represents a 15.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Down 0.4%

Shares of PEG stock opened at $83.44 on Thursday. The stock has a market cap of $41.65 billion, a P/E ratio of 21.07, a PEG ratio of 2.46 and a beta of 0.55. 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 quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The company’s fifty day simple moving average is $82.12 and its two-hundred day simple moving average is $82.38.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PEG. Evercore ISI began coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target for the company. TD Cowen upped their target price on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $89.00 to $90.00 in a research note on Thursday, November 6th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Finally, BMO Capital Markets cut their target price on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research report on Tuesday, November 4th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.19.

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.