OFI Invest Asset Management Has $105,000 Stake in Public Service Enterprise Group Incorporated $PEG

OFI Invest Asset Management boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 48.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,252 shares of the utilities provider’s stock after buying an additional 410 shares during the period. OFI Invest Asset Management’s holdings in Public Service Enterprise Group were worth $105,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Keener Financial Planning LLC acquired a new position in Public Service Enterprise Group in the second quarter valued at $27,000. Headlands Technologies LLC acquired a new position in Public Service Enterprise Group in the first quarter valued at $32,000. Wealth Preservation Advisors LLC acquired a new position in Public Service Enterprise Group in the first quarter valued at $33,000. Marshall & Sullivan Inc. WA acquired a new position in Public Service Enterprise Group in the second quarter valued at $33,000. Finally, Costello Asset Management INC lifted its holdings in Public Service Enterprise Group by 290.6% in the second quarter. Costello Asset Management INC now owns 539 shares of the utilities provider’s stock valued at $45,000 after buying an additional 401 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 1.0%

NYSE:PEG opened at $80.57 on Monday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a 50-day moving average of $83.17 and a 200-day moving average of $82.19. The company has a market cap of $40.21 billion, a PE ratio of 20.35, a PEG ratio of 2.80 and a beta of 0.53. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year 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, topping the consensus estimate 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 net margin of 17.78% and a return on equity of 12.08%. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm 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, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

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

Analyst Ratings Changes

PEG has been the subject of several research analyst reports. UBS Group lifted their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 25th. BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a research note on Wednesday, August 6th. Morgan Stanley decreased 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 research note on Thursday, September 25th. Barclays decreased 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 note on Thursday, July 10th. Finally, 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. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.