Stoneridge Investment Partners LLC Invests $1.81 Million in Public Service Enterprise Group Incorporated $PEG

Stoneridge Investment Partners LLC bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 21,634 shares of the utilities provider’s stock, valued at approximately $1,806,000. Public Service Enterprise Group makes up 1.2% of Stoneridge Investment Partners LLC’s portfolio, making the stock its 27th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in shares of Public Service Enterprise Group by 10.3% in the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after buying an additional 940 shares in the last quarter. Woodline Partners LP boosted its stake in Public Service Enterprise Group by 40.7% in the 1st quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock valued at $3,464,000 after buying an additional 12,172 shares in the last quarter. Ballentine Partners LLC grew its position in Public Service Enterprise Group by 15.3% in the second quarter. Ballentine Partners LLC now owns 3,406 shares of the utilities provider’s stock valued at $287,000 after acquiring an additional 452 shares during the period. Mather Group LLC. grew its position in Public Service Enterprise Group by 11.2% in the second quarter. Mather Group LLC. now owns 4,008 shares of the utilities provider’s stock valued at $337,000 after acquiring an additional 404 shares during the period. Finally, Perigon Wealth Management LLC raised its stake in Public Service Enterprise Group by 2.9% during the second quarter. Perigon Wealth Management LLC now owns 7,683 shares of the utilities provider’s stock worth $647,000 after acquiring an additional 218 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG opened at $78.28 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. The stock has a market capitalization of $39.07 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 2.54 and a beta of 0.60. The company’s 50 day simple moving average is $80.21 and its 200-day simple moving average is $82.31. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.11. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were issued a $0.63 dividend. The ex-dividend date was Wednesday, December 10th. This represents a $2.52 annualized dividend and a yield of 3.2%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 60.58%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PEG shares. Evercore ISI began coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 target price on the stock. Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $89.00 to $90.00 in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Monday, December 29th. BTIG Research assumed coverage on shares of Public Service Enterprise Group in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 target price for the company. Finally, LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price target on the stock in a research report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $90.96.

Insider Buying and Selling

In related news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the sale, the senior vice president directly owned 26,134 shares of the company’s stock, valued at $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.