Foundations Investment Advisors LLC Grows Holdings in Public Service Enterprise Group Incorporated $PEG

Foundations Investment Advisors LLC lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 155,777 shares of the utilities provider’s stock after acquiring an additional 16,832 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Public Service Enterprise Group were worth $13,001,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Public Service Enterprise Group by 1.9% during the second quarter. Vanguard Group Inc. now owns 64,961,047 shares of the utilities provider’s stock worth $5,468,421,000 after purchasing an additional 1,199,371 shares in the last quarter. State Street Corp grew its stake in shares of Public Service Enterprise Group by 0.8% in the second quarter. State Street Corp now owns 27,330,736 shares of the utilities provider’s stock valued at $2,300,701,000 after buying an additional 206,843 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Public Service Enterprise Group by 24.7% in the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock valued at $1,476,230,000 after buying an additional 3,469,886 shares during the period. Geode Capital Management LLC raised its holdings in shares of Public Service Enterprise Group by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 12,526,776 shares of the utilities provider’s stock valued at $1,049,973,000 after buying an additional 110,087 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in Public Service Enterprise Group by 9.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock worth $674,218,000 after acquiring an additional 715,051 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $85.00 target price (down from $88.00) on shares of Public Service Enterprise Group in a research report on Thursday, January 22nd. Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a report on Wednesday, January 14th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price on the stock in a research note on Wednesday, January 7th. BMO Capital Markets decreased their price target on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research report on Tuesday, November 4th. Finally, BTIG Research began coverage on shares of Public Service Enterprise Group in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average target price of $90.96.

Insider Buying and Selling at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the completion of the transaction, the senior vice president owned 26,134 shares in the company, valued at approximately $2,151,612.22. This represents a 15.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Up 1.0%

Shares of NYSE:PEG opened at $81.26 on Thursday. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $91.25. The company’s 50 day moving average is $80.11 and its two-hundred day moving average is $82.27. The company has a market cap of $40.56 billion, a PE ratio of 19.53, a P/E/G ratio of 2.61 and a beta of 0.60. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was up 22.1% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Equities analysts predict 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 60.58%.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.