River Wealth Advisors LLC Has $1.58 Million Stock Holdings in Public Service Enterprise Group Incorporated $PEG

River Wealth Advisors LLC boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 354.0% during the second quarter, HoldingsChannel.com reports. The fund owned 18,725 shares of the utilities provider’s stock after purchasing an additional 14,601 shares during the period. River Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,576,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Keener Financial Planning LLC acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $27,000. GoalVest Advisory LLC raised its stake in Public Service Enterprise Group by 166.7% during the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 225 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at $32,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at $33,000. Finally, Marshall & Sullivan Inc. WA bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth about $33,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $80.71 on Wednesday. The stock has a market cap of $40.29 billion, a price-to-earnings ratio of 20.38, a P/E/G ratio of 2.46 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $93.36. 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’s 50-day simple moving average is $82.30 and its 200 day simple moving average is $82.69.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the firm earned $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. As a group, research analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio is 60.58%.

Wall Street Analyst Weigh In

Several analysts have weighed in on PEG shares. BMO Capital Markets decreased their price objective on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 4th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Evercore ISI began coverage on Public Service Enterprise Group in a report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday. Finally, Barclays raised their target price on Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.19.

Insider Activity

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 stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the sale, the senior vice president directly owned 26,134 shares of the company’s stock, valued at $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by corporate insiders.

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.