OLD Second National Bank of Aurora Lowers Stock Holdings in Public Service Enterprise Group Incorporated $PEG

OLD Second National Bank of Aurora reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,851 shares of the utilities provider’s stock after selling 686 shares during the quarter. OLD Second National Bank of Aurora’s holdings in Public Service Enterprise Group were worth $2,429,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Merit Financial Group LLC lifted its holdings in Public Service Enterprise Group by 27.0% during the 1st quarter. Merit Financial Group LLC now owns 13,646 shares of the utilities provider’s stock worth $1,123,000 after buying an additional 2,899 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Public Service Enterprise Group by 4.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 44,505 shares of the utilities provider’s stock valued at $3,663,000 after acquiring an additional 1,777 shares in the last quarter. Apella Capital LLC boosted its holdings in Public Service Enterprise Group by 2.7% in the first quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider’s stock valued at $443,000 after purchasing an additional 144 shares during the period. Breakwater Capital Group grew its stake in Public Service Enterprise Group by 27.0% during the 1st quarter. Breakwater Capital Group now owns 7,303 shares of the utilities provider’s stock worth $601,000 after purchasing an additional 1,551 shares in the last quarter. Finally, Armstrong Fleming & Moore Inc purchased a new stake in Public Service Enterprise Group during the 1st quarter worth about $342,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 1.3%

NYSE PEG opened at $81.51 on Friday. The firm’s fifty day moving average is $84.03 and its two-hundred day moving average is $82.23. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The firm has a market cap of $40.68 billion, a PE ratio of 20.58, a P/E/G ratio of 2.87 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly 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. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business’s revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the company posted $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. 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 business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is 63.64%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PEG. 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 shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 6th. Barclays dropped their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 10th. UBS Group lifted their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, Morgan Stanley dropped their target price on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $91.85.

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.