DekaBank Deutsche Girozentrale Sells 1,960 Shares of Public Service Enterprise Group Incorporated $PEG

DekaBank Deutsche Girozentrale reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,029 shares of the utilities provider’s stock after selling 1,960 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Public Service Enterprise Group were worth $9,421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Public Service Enterprise Group by 4.9% during the 1st 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 stake in Public Service Enterprise Group during the 1st quarter worth about $95,076,000. Cbre Investment Management Listed Real Assets LLC bought a new stake in Public Service Enterprise Group during the 1st quarter worth about $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 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 purchasing an additional 806,782 shares during the last quarter. Finally, Reaves W H & Co. Inc. raised its holdings 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 purchasing an additional 483,682 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

PEG has been the subject of several recent research reports. Barclays boosted their price objective on Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday. Morgan Stanley decreased their price objective on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. TD Cowen began coverage on Public Service Enterprise Group in a research report on Thursday, October 16th. They issued a “buy” rating and a $93.00 price objective for the company. UBS Group upped their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, BMO Capital Markets dropped their price objective on Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average price target of $91.79.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $82.78 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $41.31 billion, a PE ratio of 20.90, a P/E/G ratio of 2.57 and a beta of 0.53. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22. The stock has a 50-day moving average price of $82.45 and a two-hundred day moving average price of $82.33.

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, topping analysts’ consensus estimates of $0.70 by $0.07. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The firm’s revenue was up 15.8% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

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.