Peterson Wealth Services Acquires 462 Shares of Public Service Enterprise Group Incorporated $PEG

Peterson Wealth Services grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,705 shares of the utilities provider’s stock after purchasing an additional 462 shares during the quarter. Peterson Wealth Services’ holdings in Public Service Enterprise Group were worth $901,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PEG. Keener Financial Planning LLC purchased a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $27,000. Headlands Technologies LLC bought a new position in shares of Public Service Enterprise Group during the 1st quarter worth $32,000. Wealth Preservation Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the first quarter valued at $33,000. Marshall & Sullivan Inc. WA bought a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $33,000. Finally, Costello Asset Management INC lifted its stake 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 worth $45,000 after acquiring an additional 401 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $83.02 on Friday. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22. The business’s fifty day simple moving average is $82.41 and its 200-day simple moving average is $82.37. 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 cap of $41.43 billion, a PE ratio of 20.96, a PEG ratio of 2.53 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last announced 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. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the business earned $0.63 EPS. The firm’s revenue for the quarter 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. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PEG shares. UBS Group boosted 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 report on Friday, July 25th. BTIG Research began coverage on shares of Public Service Enterprise Group in a research note on Wednesday. They issued a “buy” rating and a $98.00 price objective for the company. Morgan Stanley dropped their target price on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $91.79.

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.