Argyle Capital Management LLC Grows Position in Public Service Enterprise Group Incorporated $PEG

Argyle Capital Management LLC raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 18.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,375 shares of the utilities provider’s stock after buying an additional 850 shares during the quarter. Argyle Capital Management LLC’s holdings in Public Service Enterprise Group were worth $452,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Public Service Enterprise Group by 4.9% during the first quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock worth $5,247,586,000 after purchasing an additional 2,986,646 shares in the last quarter. Nuveen LLC acquired a new stake in Public Service Enterprise Group during the first quarter worth approximately $95,076,000. Cbre Investment Management Listed Real Assets LLC acquired a new stake in Public Service Enterprise Group during the first quarter worth approximately $68,317,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Public Service Enterprise Group by 20.2% during the first 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 purchasing an additional 806,782 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Public Service Enterprise Group by 476.9% during the first quarter. Assenagon Asset Management S.A. now owns 919,218 shares of the utilities provider’s stock worth $75,652,000 after purchasing an additional 759,873 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on PEG. Barclays cut their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, July 10th. BMO Capital Markets raised their price objective on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a report on Wednesday, August 6th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Evercore ISI assumed coverage on shares of Public Service Enterprise Group in a report on Tuesday. They issued an “in-line” rating and a $83.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Wednesday. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.95.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $81.42 on Friday. The firm’s fifty day moving average price is $83.34 and its 200 day moving average price is $82.18. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a market cap of $40.64 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 2.84 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the firm posted $0.63 EPS. Public Service Enterprise Group’s quarterly revenue 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. On average, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

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

Public Service Enterprise Group 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.