River Street Advisors LLC Sells 130 Shares of Public Service Enterprise Group Incorporated $PEG

River Street Advisors LLC trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,328 shares of the utilities provider’s stock after selling 130 shares during the period. River Street Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,206,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FourThought Financial Partners LLC increased its position in Public Service Enterprise Group by 2.8% in the 1st quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock valued at $378,000 after buying an additional 127 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Public Service Enterprise Group by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider’s stock valued at $3,523,000 after buying an additional 130 shares in the last quarter. Summit Financial LLC increased its position in Public Service Enterprise Group by 2.2% in the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock valued at $507,000 after buying an additional 133 shares in the last quarter. UMB Bank n.a. increased its position in Public Service Enterprise Group by 1.1% in the 2nd quarter. UMB Bank n.a. now owns 12,363 shares of the utilities provider’s stock valued at $1,041,000 after buying an additional 139 shares in the last quarter. Finally, PFS Partners LLC increased its holdings in Public Service Enterprise Group by 23.6% during the 2nd quarter. PFS Partners LLC now owns 748 shares of the utilities provider’s stock worth $63,000 after purchasing an additional 143 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. UBS Group increased their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Morgan Stanley lowered their price objective on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Barclays lowered their price objective on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, July 10th. BMO Capital Markets increased their price objective on 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. Finally, Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.85.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $81.51 on Friday. 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 capitalization of $40.68 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 2.87 and a beta of 0.53. The stock has a 50 day moving average of $84.03 and a 200 day moving average of $82.23. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22.

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

Public Service Enterprise Group Dividend Announcement

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

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.