Conning Inc. Lowers Stock Position in Public Service Enterprise Group Incorporated $PEG

Conning Inc. cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,510 shares of the utilities provider’s stock after selling 129 shares during the quarter. Conning Inc.’s holdings in Public Service Enterprise Group were worth $295,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Aberdeen Group plc boosted its stake in shares of Public Service Enterprise Group by 7.2% in the second quarter. Aberdeen Group plc now owns 851,022 shares of the utilities provider’s stock valued at $71,639,000 after buying an additional 57,385 shares in the last quarter. PDS Planning Inc boosted its position in shares of Public Service Enterprise Group by 3.9% during the 2nd quarter. PDS Planning Inc now owns 4,980 shares of the utilities provider’s stock worth $419,000 after purchasing an additional 185 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Public Service Enterprise Group by 2.8% during the 2nd quarter. Blue Trust Inc. now owns 11,461 shares of the utilities provider’s stock worth $965,000 after purchasing an additional 313 shares in the last quarter. Costello Asset Management INC boosted its holdings in Public Service Enterprise Group by 290.6% during the second quarter. Costello Asset Management INC now owns 539 shares of the utilities provider’s stock worth $45,000 after buying an additional 401 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in Public Service Enterprise Group by 7.1% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 11,464 shares of the utilities provider’s stock worth $966,000 after buying an additional 763 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

PEG stock opened at $80.57 on Friday. 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 quick ratio of 0.76 and a current ratio of 1.00. The stock’s 50 day moving average price is $83.17 and its 200 day moving average price is $82.18. The firm has a market cap of $40.21 billion, a P/E ratio of 20.35, a PEG ratio of 2.80 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the business earned $0.63 earnings per share. The business’s 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 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is 63.64%.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of research analyst reports. BMO Capital Markets boosted 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. Barclays decreased their price target on 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. Evercore ISI initiated coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 target price on the stock. 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, Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Wednesday. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $90.95.

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.