Glenview Trust co Raises Stock Position in Public Service Enterprise Group Incorporated $PEG

Glenview Trust co lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.0% during the first quarter, Holdings Channel reports. The institutional investor owned 213,893 shares of the utilities provider’s stock after buying an additional 4,249 shares during the quarter. Glenview Trust co’s holdings in Public Service Enterprise Group were worth $17,603,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEG. REAP Financial Group LLC grew its position in shares of Public Service Enterprise Group by 105.9% in the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock worth $27,000 after buying an additional 162 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Public Service Enterprise Group in the 1st quarter worth approximately $32,000. Wealth Preservation Advisors LLC purchased a new position in shares of Public Service Enterprise Group in the 1st quarter worth approximately $33,000. Zions Bancorporation National Association UT purchased a new position in shares of Public Service Enterprise Group in the 1st quarter worth approximately $50,000. Finally, Sound Income Strategies LLC grew its position in shares of Public Service Enterprise Group by 105.9% in the 1st quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider’s stock worth $58,000 after buying an additional 361 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.2%

Shares of Public Service Enterprise Group stock opened at $80.00 on Wednesday. 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 fifty day moving average price of $84.41 and a 200 day moving average price of $82.11. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $95.22. The stock has a market cap of $39.93 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 2.79 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the company posted $0.63 earnings per share. The firm’s revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

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

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,387 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the transaction, the chief executive officer directly owned 218,328 shares in the company, valued at $18,147,423.36. The trade was a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on PEG. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday. BMO Capital Markets lifted their target price on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 6th. Barclays lowered their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, July 10th. Morgan Stanley lowered their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, June 18th. Finally, UBS Group lifted their target price on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price 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.