Public Service Enterprise Group Incorporated $PEG Shares Acquired by Signature Wealth Management Partners LLC

Signature Wealth Management Partners LLC raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 266.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,641 shares of the utilities provider’s stock after buying an additional 20,099 shares during the quarter. Public Service Enterprise Group comprises about 1.3% of Signature Wealth Management Partners LLC’s investment portfolio, making the stock its 14th biggest position. Signature Wealth Management Partners LLC’s holdings in Public Service Enterprise Group were worth $2,327,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. AMF Tjanstepension AB acquired a new stake in Public Service Enterprise Group during the 2nd quarter valued at $29,395,000. Hennessy Advisors Inc. grew its holdings in Public Service Enterprise Group by 5.8% during the 2nd quarter. Hennessy Advisors Inc. now owns 184,890 shares of the utilities provider’s stock valued at $15,564,000 after buying an additional 10,200 shares during the last quarter. QRG Capital Management Inc. grew its holdings in Public Service Enterprise Group by 1.9% during the 2nd quarter. QRG Capital Management Inc. now owns 47,320 shares of the utilities provider’s stock valued at $3,983,000 after buying an additional 882 shares during the last quarter. Segment Wealth Management LLC grew its holdings in Public Service Enterprise Group by 34.2% during the 2nd quarter. Segment Wealth Management LLC now owns 4,744 shares of the utilities provider’s stock valued at $399,000 after buying an additional 1,208 shares during the last quarter. Finally, Fortis Capital Advisors LLC acquired a new stake in Public Service Enterprise Group during the 2nd quarter valued at $957,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.5%

Shares of PEG opened at $82.02 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 firm has a market capitalization of $40.93 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The stock’s fifty day simple moving average is $83.92 and its 200 day simple moving average is $82.23. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.07. The business 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 business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced 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 dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 63.64%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Barclays lowered their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, July 10th. Morgan Stanley decreased their price objective on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Saturday, September 27th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Finally, BMO Capital Markets raised their price objective on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $91.85.

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.