Public Service Enterprise Group Incorporated $PEG Shares Bought by Shell Asset Management Co.

Shell Asset Management Co. increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,064 shares of the utilities provider’s stock after purchasing an additional 1,684 shares during the period. Shell Asset Management Co.’s holdings in Public Service Enterprise Group were worth $2,699,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Prasad Wealth Partners LLC acquired a new stake in Public Service Enterprise Group during the 2nd quarter valued at approximately $430,000. KLP Kapitalforvaltning AS lifted its stake in Public Service Enterprise Group by 5.2% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 314,209 shares of the utilities provider’s stock valued at $26,450,000 after acquiring an additional 15,600 shares during the period. Belpointe Asset Management LLC lifted its stake in Public Service Enterprise Group by 385.3% during the 2nd quarter. Belpointe Asset Management LLC now owns 14,196 shares of the utilities provider’s stock valued at $1,195,000 after acquiring an additional 11,271 shares during the period. Confluence Wealth Services Inc. lifted its stake in Public Service Enterprise Group by 0.9% during the 2nd quarter. Confluence Wealth Services Inc. now owns 20,229 shares of the utilities provider’s stock valued at $1,703,000 after acquiring an additional 172 shares during the period. Finally, Valeo Financial Advisors LLC acquired a new stake in Public Service Enterprise Group during the 2nd quarter valued at approximately $214,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Down 1.7%

Shares of PEG stock opened at $80.44 on Wednesday. The company’s 50-day moving average price is $83.65 and its 200-day moving average price is $82.20. 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 stock has a market cap of $40.14 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 2.85 and a beta of 0.53. 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 posted its 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. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The company had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. Public Service Enterprise Group’s revenue for the quarter was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given 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 dividend payout ratio is presently 63.64%.

Wall Street Analyst Weigh In

Several analysts have commented on PEG shares. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Saturday, September 27th. Evercore ISI started coverage on shares of Public Service Enterprise Group in a report on Tuesday. They set an “in-line” rating and a $83.00 target price for the company. Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Finally, UBS Group lifted their target price on shares of 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. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.95.

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.