Public Service Enterprise Group Incorporated $PEG Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,501 shares of the utilities provider’s stock after purchasing an additional 404 shares during the period. Cullen Frost Bankers Inc.’s holdings in Public Service Enterprise Group were worth $1,557,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Wealth Management lifted its position in Public Service Enterprise Group by 2.5% in the second quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock valued at $431,000 after purchasing an additional 125 shares during the period. Apollon Wealth Management LLC lifted its position in Public Service Enterprise Group by 0.8% in the second quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider’s stock valued at $1,315,000 after purchasing an additional 126 shares during the period. FourThought Financial Partners LLC lifted its position in Public Service Enterprise Group by 2.8% in the first quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock valued at $378,000 after purchasing an additional 127 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Public Service Enterprise Group by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider’s stock valued at $3,523,000 after purchasing an additional 130 shares during the period. Finally, Summit Financial LLC lifted its position in shares of Public Service Enterprise Group by 2.2% during 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 during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 1.2%

Shares of PEG opened at $82.78 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a 50 day simple moving average of $82.45 and a 200-day simple moving average of $82.33. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The stock has a market cap of $41.31 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 2.57 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the company posted $0.63 EPS. The company’s revenue was up 15.8% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PEG has been the subject of a number of research reports. Barclays lifted their price target on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. BMO Capital Markets reduced their price target on shares of 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. Morgan Stanley reduced their price target on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Finally, UBS Group lifted their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $91.79.

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.