Mutual Advisors LLC Buys New Shares in Public Service Enterprise Group Incorporated $PEG

Mutual Advisors LLC purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,764 shares of the utilities provider’s stock, valued at approximately $330,000.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Public Service Enterprise Group by 4.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider’s stock worth $7,417,000 after purchasing an additional 3,601 shares during the period. Janney Montgomery Scott LLC grew its holdings in Public Service Enterprise Group by 1.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 67,393 shares of the utilities provider’s stock valued at $5,546,000 after buying an additional 783 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Public Service Enterprise Group by 0.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 67,260 shares of the utilities provider’s stock valued at $5,536,000 after buying an additional 349 shares during the last quarter. Finally, Consolidated Planning Corp raised its position in shares of Public Service Enterprise Group by 203.4% during the first quarter. Consolidated Planning Corp now owns 16,970 shares of the utilities provider’s stock valued at $1,397,000 after buying an additional 11,377 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PEG shares. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Barclays reduced their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, July 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Wednesday, October 8th. Evercore ISI initiated coverage on Public Service Enterprise Group in a report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price target for the company. Finally, TD Cowen began coverage on Public Service Enterprise Group in a report on Thursday, October 16th. They set a “buy” rating and a $93.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.77.

Public Service Enterprise Group Trading Up 0.2%

Shares of PEG stock opened at $84.92 on Tuesday. The company has a market cap of $42.38 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 2.60 and a beta of 0.53. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $95.22. The stock’s 50 day simple moving average is $82.70 and its two-hundred day simple moving average is $82.28. 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 (NYSE:PEG) last released its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the company posted $0.63 EPS. The company’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. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

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.