Oak Thistle LLC Takes $911,000 Position in Public Service Enterprise Group Incorporated $PEG

Oak Thistle LLC purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,917 shares of the utilities provider’s stock, valued at approximately $911,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC boosted its holdings in Public Service Enterprise Group by 22.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 73,542 shares of the utilities provider’s stock worth $6,192,000 after acquiring an additional 13,540 shares during the period. Norges Bank acquired a new stake in Public Service Enterprise Group during the 2nd quarter valued at approximately $564,238,000. Janney Montgomery Scott LLC grew its stake in Public Service Enterprise Group by 2.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider’s stock valued at $5,812,000 after purchasing an additional 1,652 shares in the last quarter. Magellan Asset Management Ltd boosted its stake in shares of Public Service Enterprise Group by 9.8% during the 2nd quarter. Magellan Asset Management Ltd now owns 354,187 shares of the utilities provider’s stock valued at $29,815,000 after buying an additional 31,486 shares during the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth approximately $61,174,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 1.0%

Shares of Public Service Enterprise Group stock opened at $80.67 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27. The firm has a market cap of $40.27 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 2.44 and a beta of 0.59. The business has a fifty day simple moving average of $81.76 and a 200-day simple moving average of $82.70. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.11. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.During the same quarter last year, the business posted $0.90 earnings per share. The company’s quarterly revenue 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. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 3.1%. Public Service Enterprise Group’s payout ratio is currently 60.58%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. BTIG Research started coverage on Public Service Enterprise Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 price target on the stock. UBS Group lowered their price objective on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research note on Wednesday. Wells Fargo & Company initiated coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 28th. They issued an “equal weight” rating and a $88.00 price objective on the stock. Finally, Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.96.

Insider Activity at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were 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. This represents a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by insiders.

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.