US Bancorp DE Sells 239 Shares of Public Service Enterprise Group Incorporated $PEG

US Bancorp DE decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,307 shares of the utilities provider’s stock after selling 239 shares during the quarter. US Bancorp DE’s holdings in Public Service Enterprise Group were worth $5,919,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Public Service Enterprise Group by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock worth $5,247,586,000 after buying an additional 2,986,646 shares during the period. Ameriprise Financial Inc. grew its position in shares of Public Service Enterprise Group by 2.3% during the 1st quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider’s stock worth $600,317,000 after buying an additional 162,261 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Public Service Enterprise Group by 20.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider’s stock worth $395,354,000 after buying an additional 806,782 shares during the period. Raymond James Financial Inc. grew its position in shares of Public Service Enterprise Group by 5.2% during the 1st quarter. Raymond James Financial Inc. now owns 4,683,338 shares of the utilities provider’s stock worth $385,439,000 after buying an additional 230,636 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Public Service Enterprise Group by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,061,714 shares of the utilities provider’s stock worth $251,979,000 after buying an additional 31,631 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $80.57 on Monday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The firm’s 50 day moving average price is $83.17 and its two-hundred day moving average price is $82.19. The firm has a market cap of $40.21 billion, a P/E ratio of 20.35, a PEG ratio of 2.80 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating 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 firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The business’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. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were paid a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. Public Service Enterprise Group’s payout ratio is presently 63.64%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Barclays lowered their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, July 10th. 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. UBS Group boosted their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 25th. BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a report on Wednesday, August 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $90.95.

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.