Ingalls & Snyder LLC Has $317,000 Position in Public Service Enterprise Group Incorporated $PEG

Ingalls & Snyder LLC lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,771 shares of the utilities provider’s stock after selling 250 shares during the period. Ingalls & Snyder LLC’s holdings in Public Service Enterprise Group were worth $317,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PEG. GAMMA Investing LLC grew its stake in Public Service Enterprise Group by 4.1% during the first quarter. GAMMA Investing LLC now owns 7,131 shares of the utilities provider’s stock worth $587,000 after purchasing an additional 279 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of Public Service Enterprise Group by 6.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider’s stock worth $3,922,000 after buying an additional 2,803 shares during the period. Diversified Trust Co grew its position in shares of Public Service Enterprise Group by 26.0% during the 1st quarter. Diversified Trust Co now owns 5,977 shares of the utilities provider’s stock worth $492,000 after buying an additional 1,233 shares during the period. Achmea Investment Management B.V. grew its holdings in Public Service Enterprise Group by 62.1% in the first quarter. Achmea Investment Management B.V. now owns 9,563 shares of the utilities provider’s stock worth $787,000 after purchasing an additional 3,664 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Public Service Enterprise Group by 6.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 100,969 shares of the utilities provider’s stock valued at $8,242,000 after purchasing an additional 6,428 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $83.54 on Tuesday. The stock’s 50 day moving average price is $82.39 and its 200-day moving average price is $82.42. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $41.69 billion, a PE ratio of 21.10, a PEG ratio of 2.55 and a beta of 0.53. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on PEG. BMO Capital Markets decreased their price target on shares of Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating for the company in a research note on Monday, October 20th. Barclays raised their target price on Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. UBS Group raised their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, TD Cowen assumed coverage on Public Service Enterprise Group in a research note on Thursday, October 16th. They issued a “buy” rating and a $93.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.79.

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.