Jennison Associates LLC Has $136.36 Million Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Jennison Associates LLC cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 18.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,619,831 shares of the utilities provider’s stock after selling 355,795 shares during the quarter. Jennison Associates LLC owned about 0.32% of Public Service Enterprise Group worth $136,357,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. TD Cowen assumed coverage on Public Service Enterprise Group in a research report on Thursday, October 16th. They set a “buy” rating and a $93.00 price target for the company. BTIG Research assumed coverage on Public Service Enterprise Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 price target for the company. BMO Capital Markets reduced their price target on Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating for the company in a research report on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.21.

Public Service Enterprise Group Trading Down 2.6%

NYSE PEG opened at $81.32 on Wednesday. The company has a market cap of $40.59 billion, a PE ratio of 20.54, a PEG ratio of 2.56 and a beta of 0.53. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. 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 of $82.33 and a 200-day moving average of $82.42.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating the consensus estimate 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 for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal 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.