J.W. Cole Advisors Inc. Has $2.23 Million Position in Public Service Enterprise Group Incorporated $PEG

J.W. Cole Advisors Inc. grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 42.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,470 shares of the utilities provider’s stock after acquiring an additional 7,926 shares during the period. J.W. Cole Advisors Inc.’s holdings in Public Service Enterprise Group were worth $2,228,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Keener Financial Planning LLC purchased a new position in Public Service Enterprise Group in the second quarter valued at about $27,000. GoalVest Advisory LLC raised its stake in shares of Public Service Enterprise Group by 166.7% during the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 225 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at about $32,000. Marshall & Sullivan Inc. WA bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $33,000. Finally, Wealth Preservation Advisors LLC acquired a new position in Public Service Enterprise Group in the first quarter worth approximately $33,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the transaction, the senior vice president directly owned 26,134 shares in the company, valued at $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $89.00 to $90.00 in a research note on Thursday, November 6th. Wells Fargo & Company assumed coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price target on the stock. TD Cowen upped their price objective on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. BMO Capital Markets lowered their target price on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 4th. Finally, Barclays boosted their price target on Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $91.19.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $83.38 on Friday. The company has a market capitalization of $41.62 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22. The company’s fifty day moving average price is $82.29 and its 200 day moving average price is $82.55.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 60.58%.

Public Service Enterprise Group 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.