Ledgewood Wealth Advisors LLC Sells 309 Shares of Public Service Enterprise Group Incorporated $PEG

Ledgewood Wealth Advisors LLC cut its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,548 shares of the utilities provider’s stock after selling 309 shares during the quarter. Ledgewood Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $214,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PEG. FourThought Financial Partners LLC raised its holdings in Public Service Enterprise Group by 2.8% in the 1st quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock valued at $378,000 after acquiring an additional 127 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Public Service Enterprise Group by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider’s stock valued at $3,523,000 after acquiring an additional 130 shares in the last quarter. Summit Financial LLC raised its holdings in Public Service Enterprise Group by 2.2% in the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock valued at $507,000 after acquiring an additional 133 shares in the last quarter. UMB Bank n.a. raised its holdings in Public Service Enterprise Group by 1.1% in the 2nd quarter. UMB Bank n.a. now owns 12,363 shares of the utilities provider’s stock valued at $1,041,000 after acquiring an additional 139 shares in the last quarter. Finally, PFS Partners LLC raised its holdings in Public Service Enterprise Group by 23.6% in the 2nd quarter. PFS Partners LLC now owns 748 shares of the utilities provider’s stock valued at $63,000 after acquiring an additional 143 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PEG has been the subject of several analyst reports. Morgan Stanley dropped their price objective on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Barclays decreased their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 10th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a research note on Wednesday, August 6th. Finally, UBS Group lifted their price target 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. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.85.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $82.51 on Thursday. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22. The business has a 50-day simple moving average of $84.14 and a two-hundred day simple moving average of $82.24. 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 stock has a market cap of $41.18 billion, a PE ratio of 20.83, a PEG ratio of 2.90 and a beta of 0.53.

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 analysts’ consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The business’s revenue for the quarter 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. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio is presently 63.64%.

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.