2,923 Shares in Public Service Enterprise Group Incorporated $PEG Bought by IFG Advisory LLC

IFG Advisory LLC acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 2,923 shares of the utilities provider’s stock, valued at approximately $246,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Keener Financial Planning LLC purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth about $27,000. GoalVest Advisory LLC raised its position in Public Service Enterprise Group by 166.7% during the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 225 shares in the last quarter. Headlands Technologies LLC bought a new position in Public Service Enterprise Group during the first quarter valued at approximately $32,000. Wealth Preservation Advisors LLC bought a new position in Public Service Enterprise Group during the first quarter valued at approximately $33,000. Finally, Marshall & Sullivan Inc. WA bought a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at $33,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $81.36 on Tuesday. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22. The business’s 50 day moving average is $82.10 and its two-hundred day moving average is $82.35. The company has a market cap of $40.60 billion, a P/E ratio of 20.54, a P/E/G ratio of 2.46 and a beta of 0.53. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Public Service Enterprise Group’s revenue was up 22.1% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PEG shares. Evercore ISI started coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price target on the stock. BMO Capital Markets cut their target price on Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating on the stock in a report on Monday, October 20th. BTIG Research started coverage on Public Service Enterprise Group in a report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price on the stock. UBS Group raised their price objective on 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. 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. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $91.21.

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.