Stanley Laman Group Ltd. Has $296,000 Position in Public Service Enterprise Group Incorporated $PEG

Stanley Laman Group Ltd. boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 17.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,522 shares of the utilities provider’s stock after acquiring an additional 512 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Public Service Enterprise Group were worth $296,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PEG. Keener Financial Planning LLC bought a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at $27,000. Headlands Technologies LLC bought a new position in Public Service Enterprise Group during the first quarter valued at about $32,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter worth about $33,000. Marshall & Sullivan Inc. WA acquired a new stake in shares of Public Service Enterprise Group in the second quarter worth about $33,000. Finally, Costello Asset Management INC boosted its stake in shares of Public Service Enterprise Group by 290.6% during the 2nd quarter. Costello Asset Management INC now owns 539 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 401 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Trading Up 0.5%

Shares of Public Service Enterprise Group stock opened at $84.77 on Friday. The company’s fifty day simple moving average is $82.74 and its 200-day simple moving average is $82.22. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $95.22. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The company has a market cap of $42.30 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.60 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous 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. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is 63.64%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PEG. BMO Capital Markets raised their price objective 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. Evercore ISI started coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target on the stock. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. TD Cowen initiated coverage on shares of Public Service Enterprise Group in a research note on Thursday. They issued a “buy” rating and a $93.00 target price on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $91.14.

Public Service Enterprise Group Company 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.